SOE's in Shanghai Meet Annual Loss-Elimination Target

State-owned enterprises (SOE) and state holding major industrial enterprises in Shanghai have met the loss-elimination target for the whole of 2000.

Official statistics indicate that the ratio of money-losing SOE's plunged to 18.4 percent at the end of November.

Major SOE's earned 17.3 billion yuan in profits in the first eleven months of this year, up nearly 32 percent from the same period in 1999. Meanwhile, money-losing enterprises reported a 28.4 percent decrease in total losses.

Of the 772 major enterprises, 142 still incurred losses at the end of November, accounting for 18.4 percent of the total, a 4.7 percent drop.

People's Daily Online --- http://english.peopledaily.com.cn/