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Statistics show China's central SOEs' operations pick up
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16:44, July 22, 2009

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In the first half of 2009, operations of central state-owned enterprises (SOEs) reversed the downward trend and showed an upward momentum, reporters learned from a meeting held by central SOE officials on July 21.

According to data released by the State-owned Assets Supervision and Administration Commission under the State Council (SASAC), the drop in central SOEs’ revenue was contained. In June, central SOEs achieved total revenue of 1.17 trillion yuan, an increase of 23.2 percent month-on-month and 2.4 percent year-on-year. Between January and June, the revenue stood at 5.36 trillion yuan, down 6.3 percent compared to the same period last year. The rate of decline was 2.8 percent lower than the first quarter.

The decline in central SOEs’ economic efficiency also slowed. The companies earned profits of 75.19 billion yuan in June, up 29.5 percent month-on-month. Between January and June, they realized total profits of 316.03 billion yuan, down 112.28 billion yuan or 26.2 percent year-on-year. This rate of decline was 15.6 percent lower than the first quarter. Of all the central SOEs, 67 companies (49.6 percent of the total) reported a year-on-year profit increase in the first half of the year, 17 companies more than in the first quarter.

By People's Daily Online

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