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One in three Chinese listed companies saw profit fall in 2018

10% of businesses sank into the red as trade war gave consumers chills

People walk outside the headquarter building of China Life Insurance in Beijing. The company estimates a 50% to 70% decline in annual net profit, citing a slump in the asset management business.   © Reuters

SHANGHAI -- More than 1,000 of China's roughly 3,600 listed companies suffered a net earnings decline for 2018, hurt by slumping consumer spending and the country's ongoing trade frictions with the U.S.

The 1,070 companies reporting a downturn in their December year-end results include more than 400 that expect to book a net loss. If the weak earnings hurt employment, China could face a new drag on economic growth.

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