Economic Buzz: China industrial profits decline in May

China industrial profits declined notably in May as tariff tensions damped activity, figures from the National Bureau of Statistics showed Friday.

Industrial profits decreased 9.1 percent in May from a year ago. In the January to May period, industrial profits declined 1.1 percent from the same period last year.

The NBS reportedly said that operating revenue grew 2.7 percent. The steady growth is set to underpin a continued profit recovery in the coming months, the statistical office said.

Beijing aims to achieve growth of around 5 percent this year. But the International Monetary Fund forecast China to expand only 4 percent in 2025.

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