LINE

Text:AAAPrint
Economy

China's central SOEs see profit surge in first 7 months

1
2018-10-05 07:25:04Xinhua Editor : Huang Mingrui ECNS App Download

China's state-owned enterprises (SOEs) administrated by central authorities saw their profit surge in the first seven months this year, according to the state asset regulator.

China now has 96 central SOEs, down from 196 in 2003, as the central government has restructured central SOEs to improve their efficiency and competitiveness.

From January to July, the 96 companies posted a total profit of 1.05 trillion yuan (about 152.8 billion U.S. dollars), up 23.9 percent year on year, according to the State-owned Assets Supervision and Administration Commission (SASAC).

Business revenue of the firms reached 16 trillion yuan in the first seven months, up 10.6 percent year on year, according to the SASAC.

Meanwhile, the 96 companies had become more efficient over the seven months, with their cost burden rising 9.9 percent year on year, 0.7 percentage point less than that of the revenue, said the SASAC.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.