Related News
Auto makers and petrochemicals fuel SOE gains
By Winny Wang |
September 18, 2009, Friday
|
Online Edition
Online Edition
GROWING auto and petrochemical industries narrowed profit declines among state-owned enterprises in the first eight months of this year, signaling that the world's third-largest economy is on the road to recovery.
Profits reached 813.5 billion yuan (US$119 billion), down 19.6 percent from a year earlier, compared with a 22.8 percent decline through July and a drop of 27 percent in the first half, the Ministry of Finance said on its Website today.
Profits of petrochemical and automobile companies accelerated, while steel, nonferrous metals, petroleum and machinery sectors narrowed declines in profits, the ministry said.
The SOEs saw their profits gain 4.3 percent last month from July to 127.3 billion yuan, according to Shanghai Daily calculations.
Companies directly controlled by the central government made a combined profit of 603.14 billion yuan in the first eight months, a drop of 13.8 percent from a year earlier.
Profits reached 813.5 billion yuan (US$119 billion), down 19.6 percent from a year earlier, compared with a 22.8 percent decline through July and a drop of 27 percent in the first half, the Ministry of Finance said on its Website today.
Profits of petrochemical and automobile companies accelerated, while steel, nonferrous metals, petroleum and machinery sectors narrowed declines in profits, the ministry said.
The SOEs saw their profits gain 4.3 percent last month from July to 127.3 billion yuan, according to Shanghai Daily calculations.
Companies directly controlled by the central government made a combined profit of 603.14 billion yuan in the first eight months, a drop of 13.8 percent from a year earlier.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
