Zhejiang companies post losses

A total of 6,946 industrial companies in Zhejiang province registered losses of over 17.3 billion yuan ($2.21 billion) for the first half of the year, 75.5 percent higher than at the same time last year, according to the latest data released by the Zhejiang Provincial Bureau of Statistics.

Although the number of companies is less, the amount of the losses is much higher compared to the first quarter.

The loss rate of small companies was the highest at 19 percent, 8.4 percent lower than in the first quarter.

The loss rate of large companies was 5.3 percent, while it was 12.6 percent for medium companies.