Chinese state-owned enterprises saw profit drop 2.1% on year in Jan – Jul
DATA
Chinese state-owned enterprises saw profit drop 2.1% on year in Jan – Jul
DATA

Chinese state-owned enterprises saw profit drop 2.1% on year in Jan – Jul

 

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China’s state-owned enterprises (SOEs) generated a combined profit of 2.68 trillion yuan in the period of January – July, falling 2.1% from a year earlier, according to data released by the Ministry of Finance on Monday.

In breakdown, central government-administered SOEs generated a profit of 1.92 trillion yuan in the period, rising by 4.3% from a year ago, while local government-administered SOEs generated a profit of 756.9 billion yuan, sliding 15.3% year over year, showed the data.

The companies’ revenue reached 45.78 trillion yuan in the period, rising 9.5% from the same period last year, with central government-administered SOEs’ revenue rising 10.6% on year to 25.75 trillion yuan and local government-administered SOEs’ revenue rising 8.1% to 20 trillion yuan, showed the data.