Total Profits of Shanghai's SOEs Increase by nearly 70%

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Wednesday, July 19, 2000, updated at 21:24(GMT+8)

Business

Total Profits of Shanghai's SOEs Increase by nearly 70%

According to the Shanghai Statistical Bureau, the total profits of Shanghai's state-owned enterprises increase by a large margin, reaching 69.5%, during the first half.

The profits of Shanghai Baoshan Steel Group, Instrument Shareholding Group and Textile Shareholding Group grew by 2.2-, 1.1- and 1.3-times respectively compared to the same period last year. Shanghai Guangdian Group and Shanghai Petro-Chemical Group's profits rose 94.7% and 82.4% respectively. Shanghai Huayi Group and Jiancai Group turned losses from the same period last year into profits this year.


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	According to the Shanghai Statistical Bureau, the total profits of Shanghai's state-owned enterprises increase by a large margin, reaching 69.5%, during the first half.




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