Date
18 August 2017

SOE 11-month profit up 8.2%, Xinhua says

State-owned enterprises (SOEs) posted a combined profit of 2.15 trillion yuan (US$353.7 billion) in the 11 months to November, up 8.2 percent year on year, Xinhua news agency reported Thursday, citing the Ministry of Finance. Central SOEs, or those directly controlled by the central government, saw their earnings grow 11.2 percent to 1.53 trillion yuan from a year ago while their local government counterparts had a 1.5 percent increase to 614.8 billion yuan. During the period, SOEs had combined assets worth 90.6 trillion yuan, up 13.5 percent from the previous year. Their combined debt was 59.26 trillion yuan, up 14.5 percent. SOEs in the energy, electronics, property construction, automotive and transportation sectors recorded relatively higher profit growth than their peers, the report said. 

– Contact HKEJ at digest@ejinsight.com

EL/AC/RA

 

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