Profit at Chinese state industry rises with recovery from pandemic

Profit at state-owned companies that dominate China's banking, oil and most other industries rose by as much as 25% last year as the countr y recovered from the coronavirus pandemic, the government said on Tuesday. Total revenue for national-level companies rose 2.2% over 2019 to 30.3 trillion yuan ($4.7 trillion), according to Peng Huagang, secretar y general of the State-Owned Assets Supervision and Administration Commission.