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State-owned firms post largest profits

(Global Times)

08:15, May 02, 2012

According to financial reports from 2011 and the first quarter of 2012, the accumulated revenue of 2,367 listed companies in China last year reached 22.42 trillion yuan ($158.92 billion), up 23.4 percent year-on-year, and equaling the total GDP of China's top 22 provinces and municipalities.

In 2011, the most profitable listed companies in China's A-share market were State-owned financial, petroleum and coal companies. There were five companies with a net profit higher than 100 billion yuan last year, up 25 percent compared with 2010.

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