Global EditionASIA 中文双语Français
Business
Home / Business / Macro

Chinese SOEs' profits continue strong rally

Xinhua | Updated: 2018-09-26 16:44
Share
Share - WeChat
Technicians check liquefied natural gas facilities in Nantong, Jiangsu province. [Photo by Xu Congjun/For China Daily]

BEIJING - Profits of China's State-owned enterprises (SOEs) continued to grow steadily in the first eight months of this year, but at a slower pace, data showed Wednesday.

Combined profits reached 2.3 trillion yuan ($35 billion) for the January-August period, up 20.7 percent year-on-year, according to the Ministry of Finance.

The pace of growth was slower than the 21.4 percent rise registered in the January-July period.

SOE business revenue rose 10.3 percent to over 37 trillion yuan in the first eight months, while operating costs expanded 9.7 percent year-on-year to 35.57 trillion yuan.

By the end of August, total SOE assets had reached 173.88 trillion yuan, up 8.4 percent from a year earlier, while liabilities had climbed 7.6 percent to 112.83 trillion yuan.

SOEs in sectors including steel, oil, petrochemicals, non-ferrous metals and coal posted stronger profit increases in the said period.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE