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English>>China Business

Central SOEs revenues on the rise

By Bao Chang (

09:09, November 19, 2012

Central State-owned enterprises registered revenues of 21.04 trillion yuan ($3.35 trillion) from January to October, up 9.7 percent from a year earlier.

Profits generated by central SOEs were at 1.25 trillion yuan, down 3 percent, according to data from the Ministry of Finance.

For the first 10 months, industries including electric power, tobacco and auto saw a big growth in profits. Meanwhile, industries including chemicals, nonferrous materials, construction materials and transportation saw a drop in profits.

In 2011, the total revenue of SOEs was 39.25 trillion yuan, which brought them net profits of 2.58 trillion yuan and contributed 3.45 trillion yuan in tax.

Last year, SOEs took 35 percent of the total revenue of the country's industrial and commercial sectors, 43 percent of net profits and 40 percent of tax contributions, said Wang Yong, director at the State-owned Assets Supervision and Administration Commission.

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