March 25, 2019 / 9:25 AM / 2 months ago

China state-owned firms' profits rise 10 pct in Jan-Feb

BEIJING, March 25 (Reuters) - Profits earned by China’s state-owned firms in the first two months of the year rose 10 percent from the same period a year earlier, the Ministry of Finance said on Monday.

Total profits stood at 452.05 billion yuan ($67.37 billion) in the period, while revenue increased 6.3 percent to 8.71 trillion yuan.

State firms’ liabilities increased 8.1 percent on an annual basis to 121.14 trillion yuan by end-February, the finance ministry said in a statement on its website.

Profits of state firms in oil and nonferrous metals sectors grew significantly in January-February, the ministry said. ($1 = 6.7095 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk)

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