Profit Growth at Chinese State-Owned Firms Drops to Single Digits

Profit Growth at Chinese State-Owned Firms Drops to Single Digits
A man walks at Lujiazui financial district of Pudong in Shanghai, China, on July 17, 2017. Aly Song/Reuters
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BEIJING—Profit growth at firms directly owned by China’s central government slowed to the low single digits in the second quarter, hit by a cooling economy and sputtering global trade.

Faltering earnings at state firms may complicate Beijing’s efforts to shore up the world’s second-biggest economy, which is growing at its weakest pace in nearly 30 years.