China state-owned firms’ Jan-August profits down 1.5% y/y

BEIJING (Reuters) – Profits at China’s state-owned firms in January-August fell 1.5% from the same period a year earlier to 3 trillion yuan ($420.8 billion), the country’s finance ministry said on Friday, narrowing from a 2.1% drop in January-July.

($1 = 7.1289 Chinese yuan)

(Reporting by Liangping Gao and Ryan Woo; Editing by Jacqueline Wong)