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China SOE profits rise 2.8% in Jan-Nov

Xinhua | Updated: 2016-12-28 13:24

BEIJING - Profits of China's State-owned enterprises (SOEs) rose 2.8 percent in the first 11 months of the year compared with a growth of 0.4 percent in the first 10 months, official data showed Wednesday.

The SOEs made a combined profit of 2.11 trillion yuan ($305.8 billion) for January-November, the Ministry of Finance said.

Profits of SOEs under central government control fell 2.8 percent while those for locally-administered SOEs climbed 16.9 percent year-on-year in the same period, both better than the performances in the first 10 months.

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