ZCZC
BCN-11
CHINA-SOE-EARNING
China’s SOE profits grow at faster pace
BEIJING, June 24, 2018 (BSS/Xinhua) – Profit growth in China’s state-owned
enterprises (SOEs) accelerated in the first five months, official data
showed.
Combined profits surpassed 1.29 trillion yuan (about 198 billion U.S.
dollars) for the January-May period, up 20.9 percent from a year earlier,
according to the Ministry of Finance.
The pace of growth quickened from the 18.4-percent rise registered in the
first four months.
SOE business revenue rose 10.2 percent to about 22.3 trillion yuan in the
first five months, while their operating costs expanded 9.7 percent to 21.4
trillion yuan.
In May, total assets reached 169 trillion yuan, up 9.3 percent from a year
earlier, while liabilities climbed 8.7 percent to 110 trillion yuan.
SOEs in sectors including iron steel, oil, petrochemical and coal posted
large profit increases.
BSS/XINHUA/HR/1210