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SOE profits up 9.2 percent during first seven months

Profits of China's State-owned firms' rose by 9.2 percent during the first seven months of the year from a year ago, quickening from an annual increase of 8.9 percent between January and June, the Ministry of Finance said on Wednesday. Companies in the steel, transportation and building materials industries raked in more profits, while margins in the coal and chemical sectors shrank, the ministry said in a statement on its website.

Lower domestic sales hit Geely growth in first half