China's industrial profit growth slows to 0.6 pct in May

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Profit growth at major Chinese industrial firms slowed to 0.6 percent year on year in May, down 2 percentage points from the pace posted in April, the National Bureau of Statistics (NBS) said on Sunday.

Profits at industrial companies with annual revenues of more than 20 million yuan (3.27 million U.S. dollars) totaled 520.7 billion yuan in May.

Industrial profits reached 2.25 trillion yuan in the first five months of the year, down 0.8 percent year on year, the NBS said. The decline narrowed 0.5 percentage points from the rate seen in the January-April period.

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