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January 14, 2017

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Central SOEs profitable

STATE-OWNED enterprises administered by China’s state-asset regulator saw profits slightly up in 2016. Central SOEs made total profits of 1.23 trillion yuan (US$178 billion), up 0.5 percent year on year, the State-owned Assets Supervision and Administration Commission said in a statement. Growth picked up from a 5.6 percent fall in 2015. Revenues of these companies rose 2.6 percent year on year to 23.4 trillion yuan. Some 96 central SOEs reported year-on-year profit growth last year, the statement said. China has 102 centrally administered SOEs, which manage the bulk of the country’s state assets.


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