Date
23 August 2017

Sinopec profit up 10 bln yuan, Xinhua says

Profits of oil giant China Sinopec increased more than 10 billion yuan (US$1.6 billion) in the first 11 months, Xinhua reported Sunday, citing State-owned Assets Supervision and Administration Commission deputy chairman Huang Shuhe. Huang said 11 companies, including China Guodian Corporation, China Resources (Holdings), First Automobile Works Group, Huaneng Group and Sinopec, reported profit increments of more than 5 billion yuan during the period, and many loss-making companies trimmed losses. The full-year profits of all central government SOEs will reach 1.3 trillion yuan in 2013, the report said.

– Contact HKEJ digest@ejinsight.com

SK

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