March 28, 2018 / 1:45 AM / 6 months ago

China state-owned firms' profits rise 25.3 percent y/y in Jan-Feb: finance ministry

BEIJING (Reuters) - Profits at China’s state-owned firms rose 25.3 percent year-on-year in the first two months in 2017, the Ministry of Finance said on Wednesday.

Total profits stood at 367.29 billion yuan ($58.50 billion)in January-February, while revenue rose 11.2 percent to 8.3 trillion yuan.

State firms’ liabilities increased 9.3 percent from a year earlier to 106.68 trillion yuan at the end of February, the ministry said.

On Tuesday, official data showed profits at China’s industrial firms rose 16.1 percent year-on-year in the first two months of the year, outpacing December but still lagging growth for the whole of 2017.

Reporting by Beijing Monitoring Desk; Editing by Shri Navaratnam

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