Profits of SOEs up 9.7 percent in Jan-Feb
State-owned enterprises' total profits increased 9.7 percent to 306.01 billion yuan ($49.27 billion) in the first two months of the year, with 118 central SOEs generating profits of 251.92 billion yuan for the period, up 17.4 percent year-on-year, according to data from the Ministry of Finance.
The total revenue of SOEs was 6.51 trillion yuan from January to February, up 11.3 percent from a year earlier, while the revenue of the central SOEs was 4.13 trillion yuan, an annual growth of 9.9 percent.
Industries with obvious profit growth include the electronics, electrical power, petroleum, construction, real estate, medical and auto sectors. Construction materials, non-ferrous metals, coal and mechanism industries saw big decreases on the first two months in terms of profits.
- Reforms 'pivotal to growth'
- Chinese SOE profits up 9.7% during Jan-Feb
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- State firms downsizing dinners
- Chinese firms willing to do more public good
- Chinese SOEs' profits drop 5.8% in 2012
- SOEs asked to reign in spending
