China state firms' Q1 profits fall 13.8%
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[BEIJING] Profits at China's state-owned firms fell 13.8 per cent in the first quarter from a year earlier, though the rate of decline eased slightly from the first two months of the year, the Ministry of Finance said on Tuesday.
Total profits at state firms were 432.3 billion yuan (S$90.1 billion) in the first quarter, while revenues fell 3 per cent to 9.95 trillion yuan.
Pharmaceutical and petrochemical companies saw relatively large profit increases, while profits at building materials, electronics and tobacco companies fell from a year earlier, the ministry said. Coal, steel and nonferrous metals companies suffered losses.
The data does not include earnings from state-owned financial firms.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
Aiming at China, Malaysia puts new restrictions on electric cars
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
Temasek CEO Dilhan Pillay to chair Vertex as FY2025 profit tops US$100 million
