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Big SOEs see earnings drop at slower rate
By Richard Fu |
August 24, 2012, Friday
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Online Edition
Online Edition
THE decline of earnings slowed among state-owned enterprises under the supervision of the central government, official statistics showed today.
These SOEs posted an aggregate net profit of 459.4 billion yuan (US$72.3 billion) in the first seven months, down 16.1 percent from a year earlier, the State-owned Assets Supervision and Administration Commission said in a statement.
The rate was slower compared with 16.4 percent in the January-June period.
These SOEs, mainly in industries like energy, telecom and shipping, achieved a total net profit of 69.4 billion yuan in July, the commission said without giving comparative figures.
These SOEs posted an aggregate net profit of 459.4 billion yuan (US$72.3 billion) in the first seven months, down 16.1 percent from a year earlier, the State-owned Assets Supervision and Administration Commission said in a statement.
The rate was slower compared with 16.4 percent in the January-June period.
These SOEs, mainly in industries like energy, telecom and shipping, achieved a total net profit of 69.4 billion yuan in July, the commission said without giving comparative figures.
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