Profits Of Chinese State Owned Enterprises Drop: MoF

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Friday, the Ministry of Finance said profits of Chinese state-owned enterprises declined 22.8% annually to CNY 686.18 billion during January to July period. Profits were down 2% in July from June.

Enterprises owned by central government showed a profit of CNY 509.41 billion in January to July, down 16.6% from the same period of last year. Meanwhile, profits of local state owned enterprises fell 36.4% to CNY 176.77 billion.

Friday, the Ministry of Finance said profits of Chinese state-owned enterprises declined 22.8% annually to CNY 686.18 billion during January to July period. (Market News Provided by RTTNews)