First ten months of 2010 present SOEs with 1.63 trillion yuan in net profit

15:36, November 19, 2010      

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  Revenue nailed by China's State-owned Enterprises (SOEs) from this year's January to October reached 1.63 trillion yuan ($245.59 billion), operational data released by the Ministry of Finance showed Friday.

  The data were summarized from 82 central government-owned and holding companies; 126 central government-managed companies. State-owned and holding financial firms were not taken into account.

  The results show that China's SOEs generated 24.57 trillion yuan ($3.70 trillion) of operational revenue from January to October this year, a growth by 33.9 percent year-on-year and deficit by 3.7 percent month-on-month.

  Totalized, the amount reaches 23.08 trillion yuan ($3.48 trillion), increasing by 32.9 percent year-on-year and a deficit by 2.4 percent month-on-month.

  Net profit during the period maintained a gain of 1.63 trillion yuan ($245.59 billion), up 44.8 percent year-on-year and 0.4 percent month-on-month.

  Industries of chemical engineering, non-ferrous metal metallurgy, transportation, iron and steel manufacturing, power and others saw fast growth over the last year.

Source: Global Times


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