January 17, 2018 / 2:35 AM / a month ago

China's centrally owned firms' asset-liability ratio at 66.3 pct by end-2017

BEIJING, Jan 17 (Reuters) - The asset-liability ratio of China’s centrally owned firms was at 66.3 percent at the end of 2017, down 0.4 percentage points from a year ago, the state asset regulator said on Wednesday.

Total profit of enterprises owned by central government rose by 15.2 percent last year to 1.42 trillion yuan ($221.03 billion), the State-owned Assets Supervision and Administration Commission said in a statement handed out before a briefing in Beijing.

State radio reported on Monday that profits rose by more than 15 percent in 2017, marking the fastest growth in five years.

$1 = 6.4245 Chinese yuan Reporting by Beijing Monitoring Desk; Editing by Sam Holmes

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