IN BRIEF (Page 13)

Profit hike for central SOEs

China's centrally administered State-owned enterprises (SOEs) reported a 55 percent rise year-on-year in combined net profits in the first nine months of 2010, the State-owned Assets Supervision and Administration Commission (SASAC) said on Thursday.

Net profits of central SOEs totaled 641.65 billion yuan ($96.6 billion) from January to September, SASAC said in a statement.

There are 122 centrally administered SOEs under the SASAC.

New CEO for L'Oral China

L'Oral China announced on Wednesday that Paolo Gasparrini will remain as president, while Alexis Perakis-Valat, former managing director of the company's consumer products division in Europe, has been appointed as its new chief executive officer.

This is the first ever adjustment in the top management of L'Oral China since the cosmetics company was established 13 years ago.

China Daily-Xinhua

(China Daily 10/22/2010 page13)