Key SOEs' Profits Double in First Ten MonthsChina's 516 key State-owned enterprises registered a net profit of 190.15 billion yuan from January to October, an annual increase of 97.9 percent.Of the 516 enterprises, 424 were profitable, with 147 each earning a net profit over 100 million yuan, latest statistics from the State Economic and Trade Commission said Thursday, November 30. The combined profit earned by key oil, petrochemical, telecommunications, electricity power, automobile, metallurgical, electronic and tobacco enterprises and light industries totaled 179.45 billion yuan, 94.4 percent of the total. Oil enterprises topped the list, earning a combined profit of 56.68 billion yuan, up 270 percent from the same period last year. Telecommunications enterprises earned 46.9 billion yuan, up 58. 2 percent. The profit of key petrochemical, electricity, and automobile enterprises each exceeded 10 billion yuan. The metallurgical industry registered 9.77 billion yuan in profit during the same period, up 180 percent. The electronic industry, light industry and tobacco industry also witnessed healthy growth. Key enterprises in the transportation sector reduced losses by 2.87 billion yuan to report profits of 2.33 billion yuan. |
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