Date
20 October 2017

China SOEs Jan-Oct combined net profit up 10.1%, HKEJ says

China’s finance ministry said Thursday that state-owned enterprises (SOEs) made a combined 1.97 trillion yuan (US$323.33 billion) net profit for the ten months to October, representing a 10.1 percent increase compared to the same period last year, the Hong Kong Economic Journal reported Thursday. SOEs under the management of the central government reported a combined profit of 1.42 trillion yuan during the period, up 13.9 percent year on year, while local SOEs booked a combined profit of 547.5 billion, up 1.1 percent. Among the SOEs, electronics, power, property construction, transportation and auto manufacturing firms reported stronger growth, the report said.

– Contact HKEJ at [email protected]

EL/AC/RC

 

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