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Central SOEs profits decline in Q1, but more slowly

(chinadaily.com.cn)
Updated: 2009-04-25 14:40

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Profits of companies controlled by China's central government continued to fall in the first quarter but at a slower pace, as the stimulus package showed positive effects on their performance, the State-owned enterprise (SOE) watchdog said Friday.

The 138 SOEs directly controlled by the central government, generated a profit of 119.49 billion yuan ($17.57 billion) through January-March, down 41.8 percent year on year. The decline was 11.1 percentage points slower than the January-February figure...

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