What's news

Governments and policies

SOE profits continue to decline during Q1

Profits at China's State-owned enterprises continued to drop in the first quarter of the year, but at a slower pace. SOEs' combined profits fell 8 percent year-on-year to 499.73 billion yuan ($81.52 billion) during the January to March period, the Ministry of Finance said in a statement. The decline compares to a 21.5 percent slump registered in the January-February period this year and a 3.3 percent growth during the same period last year.