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Net profits of China's state-owned enterprises rose about 50 percent from January to July, compared with the same period last year. But the growth rate is slowing.
Statistics from the Ministry of Finance show that state-owned enterprise revenue amounted to about 17 trillion yuan in the first seven months this year. That's close to 40 percent growth year-on-year.
In the same period, net income rose by more than 50 percent to about 1.1 trillion yuan. But both growth rates are lower compared with that registered in the first half of the year. Analysts say the slow-down is due to rising costs.