Profits at China’s big industrial firms increased in May for the first time since the coronavirus outbreak as China’s economy shows signs of recovery. In May, the profits of industrial firms saw a year-on-year increase of 6 per cent, from a decrease of 4.3 per cent year-on-year in April, data from the National Bureau of Statistics (NBS) released on Sunday showed. Total profits in May reached 582.34 billion yuan (US$82 billion). The NBS attributed the improvement in May to a significant drop in the purchase price of industrial products, as well as profit rebounds in several sectors, including petroleum processing, ... (full story)