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Chinese shares tumble over 3% in afternoon session

BEIJING - [Company Incorporation USA]China's benchmark Shanghai Composite Index went down more than 3 percent soon after opening of the afternoon session on Monday.

The financial and nonferrous metal sectors suffered heavy losses.

The National Bureau of Statistics said on Monday that profits at major Chinese industrial firms [Hong Kong Company Registration Guide] dropped 0.3 percent year on year in June, down from a 0.6 percent growth posted in May.

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