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China state-owned firms' profits +23.1 percent year-on-year in January-July
August 24, 2017 / 1:33 AM / a month ago

China state-owned firms' profits +23.1 percent year-on-year in January-July

BEIJING (Reuters) - Profits at China’s state-owned firms rose 23.1 percent in the first seven months of 2017 from a year earlier, the Ministry of Finance said on Thursday.

Total profits stood at 1.66 trillion yuan ($249 billion) in January-July, while revenue rose 16.5 percent to 28.94 trillion yuan, the ministry said.

State firms’ total liabilities rose 11.3 percent from a year earlier to 95.26 trillion yuan at the end of July, it said.

Reporting by Beijing Monitoring Desk; Editing by Richard Pullin

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