State-owned firms’ Jan-July prof­its down

China Daily (USA) - - BUSINESS -

Prof­its at China’s State-owned firms fell 6.5 per­cent in the first seven months of 2016 from a year ear­lier, less than the 8.5 per­cent fall in the first half of the year, theMin­istry of Fi­nance said onMon­day. To­tal prof­its at State firms stood at 1.31 tril­lion yuan ($196.13 bil­lion) in the Jan-July pe­riod, while rev­enue rose 0.2 per­cent to 24.88 tril­lion yuan, the min­istry said. State firms’ to­tal li­a­bil­i­ties rose 17.6 per­cent on year to 83.74 tril­lion yuan at the end of July, ac­cord­ing to the min­istry.

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