China's industrial profits down 22.9 pct in first 2 months

Profits of China's major industrial firms fell 22.9 percent year on year in the first two months of the year, data from the National Bureau of Statistics (NBS) showed Monday.

Industrial firms with annual main business revenue of at least 20 million yuan (about 2.91 million U.S. dollars) saw their combined profits reach about 887.21 billion yuan in the period, the NBS said.