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Major Chinese industrial companies' profits drop 1.3 pct

(Xinhua)

08:11, April 28, 2012

Profits for Chinese chemical producers, automakers and other major industrial companies fell 1.3% in the first three months of 2012 from the same period last year, China's statistical authority said Friday.

Total profits for the largest industrial companies, or those with annual revenues above 20 million yuan ($3.17 million), stood at 1.0449 trillion yuan during the first three months, the National Bureau of Statistics said in a statement on its website.

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