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Net profits of China’s centrally-owned state firms at 1.75 trillion yuan in Jan-Nov

by Mike Robinson

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© Reuters. FILEPHOTO: A view of the Chinese national flag in Beijing, China on April 29, 2020. REUTERS/Thomas Peter

BEIJING (Reuters – China’s centrally owned state companies made 1.75 trillion yuan in net profits in January and November, according to state media.

According to China Securities Journal, the total profits of state-owned firms was 2.3 trillion Yuan over the first eleven months of this year. There were significant profit improvements in steel, oil and coal, which an official from the regulator reported.

($1 = 6.3748 renminbi)

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