China state firms report lower Q1 profits


BEIJING: Profits at China's state-owned firms fell 13.8% in the first quarter from a year earlier, though the rate of decline eased slightly from the first two months of the year, the Ministry of Finance said.

Total profits at state firms were 432.3 billion yuan (US$66.56bil) in the first quarter, while revenue fell 3% to 9.95 trillion yuan.

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Business , China , GLC , earnings

   

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