China state-owned firms’ profit falls 2.1% year on year in January-July

BEIJING: Profit at China’s state-owned firms fell 2.1 per cent to 2.68 trillion yuan (US$387.54 billion) in the first seven months of the year versus the same period last year, the Ministry of Finance said.

That matched a 2.1 per cent decline in profit in the first six months of the year.