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BEIJING - China will attempt to widen financing channels for local governments through a pilot revenue bond program.
BEIJING - China's State-owned enterprises (SOEs) reported steady profit growth in the first seven months of 2017 as the country's supply-side structural reforms took effect, Ministry of Finance data showed Thursday. The combined profits of China's SOEs gained 23.1 percent year-on-year to 1.66 trillion yuan (9.6 billion) during January-July. Centrally-administered SOEs made about 1.09 trillion yuan in profit, up 17.3 percent year-on-year, while locally-administered SOEs made over 575 billion yuan, up 35.8 percent year-on-year.Total business revenue for state firms rose 16.5 percent to 28.9 trillion yuan, while operating costs rose 15.8 percent to 28 trillion yuan. SOEs in steel and non-ferrous metals continued solid profit growth due to success in cutting overcapacity.
BEIJING - China's major banks saw slowing profit growth in the first quarter, though bad loan rates fell.
BEIJING - China's consumer inflation retreated mildly in September weighed down by dropping food prices, while steady service prices allowed a continued rise in overall price levels.
BEIJING - China's forex reserves rose for the eighth month in a row in September as pressure of capital outflow eased, data from the central bank showed Monday.