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SOEs' Losses Drop in First Six Months
China has greatly improved the performances of its key state-owned enterprises with their losses down by 6.1 percent in the first half of this year, compared with the same period last year.
Sheng Huaren, minister of the State Economic and Trade Commission, said that SOEs' losses were reported at 46.3 billion yuan (5.6 billion US dollars).
Sheng also said that 3,463 of China's 6,599 money-losing large and medium-sized SOEs have stemmed their losses, and a growing number are moving towards profitability.
The huge headway in the first half of this year is considered crucial if the government wants to achieve the goal of implementing modern cooperate system and helping SOEs turning loss into profit that was set in 1998 and supposed to realize this year.
More efforts will be made to improve SOEs' efficiencies, to streamline their operational mechanisms and to sharpen their competitive edges in the next six months, he said.
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