In this photo taken on Apr 22, 2021, workers assemble diesel engines at a workshop of the Weichai Group in Weifang, east China's Shandong province. (PHOTO / XINHUA)

BEIJING — Profits of China's major industrial firms declined 4 percent year on year in 2022, data from the National Bureau of Statistics (NBS) showed Tuesday.

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Industrial firms with annual main business revenue of at least 20 million yuan (about $2.96 million) saw their combined profits reach about 8.4 trillion yuan in the period, the NBS said.