SOEs' profits up in 2010

08:43, January 18, 2011      

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China's state-owned enterprises saw profits increase 37.9 percent year on year to 1.99 trillion yuan (US$301.5 billion) in 2010, the Ministry of Finance said yesterday.

Business revenue reached 30.33 trillion yuan, up 31.1 percent from a year ago. Both profits and business revenue doubled from five years earlier, the ministry said in a statement.

SOEs maintained profit momentum and posted steady growth in the second half of last year, which contributed to the healthy development of the national economy, the ministry said.

Source: Xinhua
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