Wednesday, August 17

China centrally owned SOE net profits up 6.1% y/y in first half

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BEIJING — Net profits at China’s central government-owned firms rose 6.1% in the first half of the year from a the same period last year, the official Xinhua news agency reported on Saturday.

Net profits of the centrally owned firms reached 1.09 trillion yuan ($161 billion), Xinhua reported, citing the State-owned Assets Supervision and Administration Commission. (Reporting by Albee Zhang and Tony Munroe; Editing by William Mallard)