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China’s 6 Biggest Banks Report $1 Billion Profit Drop
The loss of profit in the banking sector indicates an all-round economic slowdown, even a stall, an analyst said.
China’s six largest banks have posted first-quarter reports with a significant drop in both earnings and profits.
Experts said the profit drop in China’s banking industry indicates a stalling economy that is likely to continue to worsen as the effects of the tariff war between China and the United States kick in.