China state-owned firms' profits up 20.7 percent y/y in Jan-Aug

BEIJING (Reuters) - Profits at China's state-owned firms rose 20.7 percent in the first eight months of 2018 compared with the same period last year, the Ministry of Finance said on Wednesday.

Total profits stood at 2.3 trillion yuan ($334.62 billion) in January-August, while revenue increased 10.3 percent to 37.0 trillion yuan.

State firms' liabilities increased 7.6 percent from a year earlier to 112.8 trillion yuan as of end-August, the ministry said.

($1 = 6.8735 Chinese yuan)

(Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk)