Non-financial central SOEs' profits fall
By Richard Fu |
April 21, 2012, Saturday
|
Print Edition
Print Edition
THE combined net profit of China's non-financial centrally-administered state-owned enterprises dropped 13.6 percent on an annual basis in the first quarter of this year amid an economic slowdown.
The 118 SOEs under the direct supervision of the central government posted net profit of 181.4 billion (US$28.8 billion) in the first three months, the State-owned Assets Supervision and Administration Commission said yesterday. Their sales gained 12.3 percent to 5 trillion yuan.
However, the SOEs saw their combined net profit jumping 50.6 percent to 82.6 billion yuan in March from February, the state asset watchdog said.
Earlier this week, the Ministry of Finance said the combined profit at all non-financial SOEs, including those administered by local governments, fell 9.1 percent to 482.9 billion yuan between January and March.
China's economy grew 8.1 percent year on year in the first quarter, the slowest pace since the second quarter of 2009.
The 118 SOEs under the direct supervision of the central government posted net profit of 181.4 billion (US$28.8 billion) in the first three months, the State-owned Assets Supervision and Administration Commission said yesterday. Their sales gained 12.3 percent to 5 trillion yuan.
However, the SOEs saw their combined net profit jumping 50.6 percent to 82.6 billion yuan in March from February, the state asset watchdog said.
Earlier this week, the Ministry of Finance said the combined profit at all non-financial SOEs, including those administered by local governments, fell 9.1 percent to 482.9 billion yuan between January and March.
China's economy grew 8.1 percent year on year in the first quarter, the slowest pace since the second quarter of 2009.
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