China industrial firms' March profits fall 34.9% y/y

BEIJING (Reuters) - Profits earned by China's industrial firms in March fell 34.9% from a year earlier to 370.66 billion yuan ($52.43 billion), the statistics bureau said on Monday. The decline compares with a 38.3% slump in January-February, which was the steepest decline since at least 2010.For January-March, industrial firms' profits fell 36.7% on an annual basis to 781.45 billion yuan. Liabilities at industrial firms rose 5.4% on year at end-March, versus a 5.3% increase as of end-February...