19 April 2019

Local govt SOEs post 2.6% fall in net profit, Xinhua says

Local government-controlled state-owned enterprises posted a combined net profit of 314.6 billion yuan (US$51.24 billion) in the first eight months, down 2.6 percent from a year earlier, Xinhua news agency reported Monday, citing government data. Weak external demand and excessive capacity in the steel, coal, non-ferrous metals and shipbuilding industries partly contributed to the profit decline, it said.

– Contact HKEJ at [email protected]



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