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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 - Chinese bike-sharing company ofo received more than 1.1 million orders in India in the first quarter in 2018, the company said Thursday.

BEIJING - China is concerned about the European Union's anti-dumping probe against Chinese tire products and urges the EU to use trade remedy measures discreetly, an official with the commerce ministry said Friday.

BEIJING - China will cut value-added tax (VAT) rates as part of a tax reduction package amounting to 400 billion yuan (about billion) this year.

BEIJING - China's leading cookware company Supor saw a 12-percent growth year-on-year in revenue in the first quarter of the year, a corporate report has said.