China's finance ministry says profits at state-owned firms were +10.9% y/y in January- May

<p>China's MoF trying pump out something positive after the sad looking manufacturing PMI?</p><ul><li><a href="https://www.forexlive.com/news/china-june-pmis-manufacturing-490-expected-490-services-532-expected-537-20230630/" target="_blank" rel="follow" data-article-link="true">China June PMIs: Manufacturing 49.0 (expected 49.0) &amp; Services 53.2 (expected 53.7)</a></li></ul><p>MoF:</p><p> Profits at Chinese
state-owned firms grew 10.9% year-on-year in January-May</p><ul><li>compared with in the first four months of the year when the number was +15.1% y/y</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.