China state firms’ profits fall 6.7 pct y/y in 2015

FXStreet (Mumbai) - China's state-owned companies reported 6.7% drop y/y in their combined profit for January-December, the Ministry of Finance said, better than a 9.5% decline of the first 11 months, MNI reports.

The ministry noted in a statement on its website,”Downward pressure on economic operations remains relatively big, although there are signs of warming up in some indicators."

Companies in transportation, chemical and machinery reported a rise in profit last year, while firms in coal, oil, petrochemicals and building materials saw a drop in earnings. Firms in steel and non-ferrous metal sectors continued to suffer losses.