Roughly half of Chinese listed companies believe that their business earnings for the first half of this year will drop.

A Chinese business newspaper published by China's official Xinhua News Agency reported that 448, or 45 percent, of 992 listed companies predict a fall in earnings.

Nine-hundred-12 companies released anticipated changes in their net profit, with 394, or 43 percent, of the firms forecasting that their net profit will dwindle.