SOE revenues rally in first ten months

14:57, November 19, 2009      

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Statistics released by the Ministry of Finance (MOF) showed that from January to October this year, State-owned enterprises (SOEs) had accumulatively realized revenues of 17.87 trillion yuan, up by 0.5 percent year-on-year. This is the first positive growth for revenues in 2009.

In 2009 the operational situation of SOEs has been improving, especially from June when revenues dropped less drastically compared to the same period last year. According to the data released by MOF, SOE revenues fell by 8.1 percent year-on-year from January to February, and dropped by 7.4 percent compared with the previous year from January to May. The recovery went at slow pace. But beginning from January to June, their revenues saw an obvious rising trend of growth.

Profits of State-owned enterprises have also shown good growth. From January to October, SOEs achieved 1.06 trillion yuan profits accumulatively, declining by 10.6 percent year-on-year. The decline rate was 7 percentage points lower than that for the first nine months. SOE profits in the first two months decreased by 45.7 percent year-on-year. However, in recent months, the decline rate of SOE revenues has been much slower.

"SOE profits must be in positive growth at the end of 2009," Feng Yuming, a macro-economy analyst said. At present, SOE revenues are still surging and the base number of last year was comparatively low, so in the next two months their revenues may not only realize the positive growth, but also have the growth rate of over 10 percent, Feng analyzed.

By People's Daily Online
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