China's SOEs see big profit jump in Jan-Feb

17:28, March 18, 2010      

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China's state-owned enterprises (SOEs) profited 250.32 billion yuan (36.7 billion U.S. dollars) in total in the first two months of this year, the Ministry of Finance said Thursday.

A statement posted on the ministry's website said the total profit of the country's SOEs in January and February jumped 88.9 percent year on year.

The profit surge was mainly attributable to a relatively low base figure from the January-February period last year and also to the rebound of global economy this year.

In breakdown, the automobile, real estate, oil and petrochemical industries saw a huge profit surge.

However, the power-generation sector posted a loss from January to February this year, according to the statement. It did not provide the specific reasons.

Source: Xinhua
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