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Profits Fall at China’s State-Owned Firms

September 12, 2016

General Images Of China Economy As PBOC Seen Cutting Rates AgainGeneral Images Of China Economy As PBOC Seen Cutting Rates Again
Pedestrians walk in the central business district of Beijing, China, on Wednesday, March 4, 2015. Tomohiro Ohsumi/Bloomberg via Getty Images

Profits at China‘s state-owned firms fell 6.5% in the first seven months of 2016 from a year earlier, less than the 8.5% fall in the first half of the year, the Ministry of Finance said on Monday.

Total profits at state firms stood at 1.31 trillion yuan ($196.13 billion) in the Jan-July period, while revenue rose 0.2% to 24.88 trillion yuan, the ministry said.

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State firms’ total liabilities rose 17.6% on year to 83.74 trillion yuan at the end of July, it said.