BEIJING, Jan 27 (Reuters) - Profits at China's industrial firms fell 2.3% in 2023, official data showed on Saturday, as sluggish demand chipped away at business profits amid a fragile post-COVID economic recovery.
The decline followed a 4.4% profit fall in the first 11 months, according to data from the National Bureau of Statistics (NBS).
Industrial profit numbers cover firms with annual revenues of at least 20 million yuan ($2.8 million) from their main operations. ($1 = 7.1632 Chinese yuan renminbi) (Reporting by Qiaoyi Li, Liangping Gao and Ryan Woo; Editing by William Mallard)
