China rail ministry lost $1.1 billion in first-quarter: report - Chicago Tribune | Beijing Informer

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China rail ministry lost $1.1 billion in first-quarter: report – Chicago Tribune

Posted on 03 May 2012. Tags: Beijing News, Business News

BEIJING (Reuters) – China’s heavily-indebted Ministry of Railways suffered a loss of 7 billion yuan ($1.1 billion) in the first quarter, local media reported on Thursday, after steep debt repayments of more than 28 billion yuan depleted its cash holdings.

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