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China state-owned firms' profits up 21.7 percent in January-August
September 26, 2017 / 2:01 AM / 2 months ago

China state-owned firms' profits up 21.7 percent in January-August

BEIJING (Reuters) - Profits at China’s state-owned firms rose 21.7 percent in the first eight months of 2017 from the same period a year earlier, the Ministry of Finance said on Tuesday.

Total profits stood at 1.9 trillion yuan ($287.27 billion) in January-August, while revenue rose 15.5 percent to 33.08 trillion yuan.

State firms’ liabilities rose 11 percent from a year earlier to 96.49 trillion yuan at the end of August, the ministry said.

Reporting by Beijing Monitoring Desk; Editing by Kim Coghill

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