January 15, 2018 / 11:15 AM / 7 months ago

China central government-owned enterprises' 2017 profit 15.2 percent: state media

BEIJING (Reuters) - Total profit of the enterprises owned by China’s central government rose by 15.2 percent in 2017 to 1.4 trillion yuan ($217.5 billion), the country’s state-owned Xinhua news agency reported on Monday.

FILE PHOTO: A Chinese national flag flutters at the headquarters of a commercial bank on a financial street in central Beijing, China November 24, 2014. REUTERS/Kim Kyung-Hoon/File Photo

Xinhua said operating revenue for the enterprises also rose 13.3 percent last year to 26.4 trillion yuan,

State-owned China National Radio reported similar figures separately on Monday and said the enterprises’ profit growth rate was the fastest in five years.

Xinhua also said the central government-owned enterprises will target coal capacity cuts of 12.65 million tonnes in 2018.

Reporting by Beijing Monitoring Desk; Editing by Jacqueline Wong and Louise Heavens

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