Date
23 August 2017

Central SOEs post 7.5% profit growth in Jan-Nov, report says

The earnings of China’s centrally administered state-owned enterprises (SOEs) climbed 7.5 percent year on year to 1.2 trillion yuan (US$196.22 billion) in the 11 months to November, the official Xinhua news agency reported Thursday, citing Zhang Yi, director of the State-owned Assets Supervision and Administration Commission. Their combined revenues during the period grew 9.5 percent to 21.8 trillion yuan, while the taxes they paid rose 5.4 percent to 1.8 trillion yuan, the report said. Eighty-nine percent of the central SOEs have adopted a shareholding system and 52 percent became mixed ownership enterprises, while SOEs administered by local governments are also undertaking reforms, Zhang was quoted as saying.

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CG

 

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