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China Q1 central government-owned firms' profits rise, debt levels ease

Reuters  |  BEIJING 

BEIJING (Reuters) - Total profit from China's central government-owned firms accelerated in the first quarter while debt levels fell from the beginning of the year, suggesting Beijing is having some success with revamping its debt-ridden and lumbering state sector. Profit in the first quarter rose 20.9 percent from a year earlier to 377.06 billion yuan ($60.03 billion), up from 15.2 percent for 2017 - the highest in five years, the country's state assets regulator said on Monday. For March, profit rose 17.8 percent from a year earlier to 169.87 billion yuan, the highest for a month on record, ...

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First Published: Mon, April 16 2018. 09:52 IST