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Profits Fall at Chinese State Owned Companies

Coal

Profits at Chinese state owned companies fell by 6.6% year-on-year in January-August to 1.6 trillion yuan ($251 billion), according to finance ministry data reported by Reuters. This compares with a drop of 2.3% in the first seven months of the year. Profits in the petrochemical, oil and construction sectors fell in January-August while losses continued in the steel, coal and non-ferrous metal sectors.