Alu­minum gi­ant back in black

China Daily (Canada) - - BUSINESS -

China’s big­gest alu­minum pro­ducer re­turned to profit last year as its bold down­siz­ing helped re­lieve the bur­den from loss-mak­ing “zom­bie” sub­sidiaries. Alu­minum Cor­po­ra­tion of China raked in nearly 1.9 bil­lion yuan ($276 mil­lion) in op­er­at­ing prof­its in 2016, the best per­for­mance since the 2008 global fi­nan­cial cri­sis, with its cash flow at 12 bil­lion yuan. The gains were in sharp con­trast with a loss of around 2.7 bil­lion yuan in 2015. “The sub­stan­tial im­prove­ment came on the

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