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SITUATION REPORT

Jul 27, 2012 | 16:49 GMT

China: Business Slows In Wenzhou

More than 60 percent of businesses in Wenzhou, China, have slowed or stopped production since June, Morning Whistle reported July 27, citing a report by the Zhejiang Provincial People's Congress. According to the report, large businesses' profits declined by about 24 percent, medium-sized businesses' profits contracted by 18 percent and small businesses' profits declined by 14 percent. Companies in Zhejiang province have seen their average net profit decline by about 19 percent since January, according to the report.

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