ZCZC
BCN-24
CHINA-ENTERPRISES-PROFIT-GROWTH
China’s SOE profits grow at faster pace
BEIJING, Aug. 25, 2018 (BSS/Xinhua) – Profit growth in China’s state-owned
enterprises (SOEs) accelerated in the first seven months of the year,
official data showed Friday.
Combined profits reached 2.02 trillion yuan (about 295 billion U.S.
dollars) for the January-July period, up 21.4 percent year on year, according
to the Ministry of Finance.
The pace of growth quickened from the 21.1-percent rise registered in the
first six months.
SOE business revenue rose 10.2 percent to about 32.3 trillion yuan in the
first 7 months, while operating costs expanded 9.6 percent year-on-year to
31.1 trillion yuan.
SOEs in sectors including steel, oil, petrochemicals and non-ferrous
metals posted the strongest profit increases in the said period.
BSS/XINHUA/HR/1410