Of the total of 96 central government-owned firms supervised by State-owned Assets Supervision and Administration Commission, 34 saw their net profit rise by more than 20 per cent, while net profits at 53 increased by more than 10 per cent. Photo: Reuters

China’s SOEs posted record profits in June, but second quarter profit growth slowed substantially

  • Net profits at central government-owned firms rose to 158.5 billion yuan (US$23 billion), up 8.4 per cent from a year earlier
  • But the net profit growth rate slowed to 8.6 per cent in the second quarter of 2019 compared to 18.6 per cent in the first three months
Topic |   China economy

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Of the total of 96 central government-owned firms supervised by State-owned Assets Supervision and Administration Commission, 34 saw their net profit rise by more than 20 per cent, while net profits at 53 increased by more than 10 per cent. Photo: Reuters
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Amanda Lee

Amanda Lee

Beijing-based correspondent Amanda Lee covers markets and the economy for the Post, with an interest in China's economic and social landscape. A graduate of the London School of Economics, she joined the Post in 2017 and has previously worked for Thomson Reuters and Forbes.