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Cracks in China Inc's rosy earnings reveal a patchier picture


By Umesh Desai and Patturaja Murugaboopathy HONG KONG/BENGALURU (Reuters) - At first glance, China Inc's earnings are off to a roaring start to 2017: first-half net profits surged by nearly a quarter, helped by healthy expansion in the world's second-largest economy. Last year, the rise was a mere 6 percent.Robust profits have been a key factor in pushing the benchmark Hong Kong index to three-year highs and its Shanghai counterpart to its strongest levels in 20-months.But the corporate investment and M&A that is driving those earnings is being fuelled by growth in debt that is too rapid for ...

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First Published: Mon, September 11 2017. 09:41 IST