China state-owned firms' Jan-Oct profits up 0.4% y-o-y

[BEIJING] Profits at China's state-owned firms rose 0.4 per cent in the first 10 months of 2016 from a year earlier, compared with a 1.6 per cent fall in the first nine months of this year, the Ministry of Finance said on Friday.

Total profits at state firms stood at 1.92 trillion yuan (S$397 billion) in the first 10 months of the year, while revenue rose 1.5 per cent to 36.74 trillion yuan, the ministry said.

State firms' total liabilities rose 10.4 per cent year-on- year to 86.46 trillion yuan at the end of October, it said.

REUTERS