April 23, 2019 / 9:13 AM / a month ago

China state-owned firms' Q1 profits rise 15.6 pct

BEIJING, April 23 (Reuters) - Profits earned by China’s state-owned firms in the first three months of the year rose 15.6 percent from the same period a year earlier, the Ministry of Finance said on Tuesday.

Total profits stood at 819.77 billion yuan ($122.03 billion) in the period, while revenue increased 8.9 percent to 14 trillion yuan.

State firms’ liabilities increased 8.8 percent on an annual basis to 122.57 trillion yuan by end-March, the finance ministry said in a statement on its website.

Profits of state firms in oil and transportation sectors grew significantly in January-March, the ministry said. ($1 = 6.7180 Chinese yuan renminbi) (Reporting by Lusha Zhang and Beijing Monitoring Desk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below