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June 25, 2018

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SOEs’ profit qucikens

PROFIT growth in China’s state-owned enterprises accelerated in the first five months, official data showed.

Combined profits surpassed 1.29 trillion yuan (US$198 billion) for the January-May period, up 20.9 percent from a year earlier, said the Ministry of Finance. The pace of growth quickened from the 18.4-percent rise registered in the first four months. SOE business revenue rose 10.2 percent to 22.3 trillion yuan in the first five months, while their operating costs grew 9.7 percent to 21.4 trillion yuan.



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