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China SOE Profits Up 1.9% Y/Y From January To June

CHINA PRESS

China’s SOE profits reached CNY1.4 trillion between January and June, a 1.9% increase y/y, according to information released at a State-owned Assets Supervision and Administration Commission (SASAC) seminar. Looking ahead, SOEs aim to properly manage the accounts receivable of SME firms and promote the sustained recovery of the economy, according to Zhang Yuzhuo, director at the SASAC. SOE leadership was focused on developing new quality productivity and promoting technological and industrial innovation.

MNI Beijing Bureau | lewis.porylo@marketnews.com

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