China government-owned firms' profits rise 16.4 percent y/y in Jan-July: state radio

BEIJING (Reuters) - Earnings at China's centrally-owned firms rose 16.4 percent in the first seven months of the year from the year-earlier period, state radio reported on Wednesday, citing the government's cabinet.

The report also said China would push forward with restructuring government-owned companies.

China will also prevent an increase in local governments' hidden debts and push forward with capacity cuts in the coal-fire power and aluminium sectors, it said.

(Reporting by Beijing Monitoring Desk; Editing by Nick Macfie)