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China Biodiesel hopes

This article was originally published in The Public Ledger

CHINA Biodiesel International saw a fall in first half pre-tax profit to yuan7.27m ($1.06m) from yuan9.93m last year. Revenue for the period dropped to yuan59.19m from yuan89.51m a year earlier. However, with the rebound of China's economy, oil prices and a new preferential VAT policy on the biodiesel industry, CBI's sales have risen steadily after bottoming out in February.

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