China industrial sector profits fall 2.2% in April

HONG KONG (MarketWatch)
Chinese industrial companies' profits fell 2.2% in April from a year earlier, according to official statistics released over the weekend, underscoring how the economic slowdown is beginning to weigh on some of the nation's biggest companies
Industrial-sector profits in April totaled 407.6 billion yuan ($64.2 billion), a drop of 2.2% from year-earlier levels, the National Bureau of Statistics said in a statement on Sunday
Meanwhile, in the first four months of the year, state-owned companies or state-controlled enterprises profits fell 9.9% to 457.8 billion yuan, the statistics bureau said