Profits Climb Slowly
By Winny Wang |
October 22, 2010, Friday
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Print Edition
Print Edition
PROFITS at China's state-owned enterprises administered by the central government grew at a slower pace in September on a monthly basis, reflecting a moderation in the country's economic growth.
Their net earnings in September rose 6.9 percent from a month earlier to total 111.9 billion yuan, according to the State-owned Assets Supervision and Administration Commission. The SOEs' profit expanded 11.49 percent in August.
In the first three quarters of the year the SOEs posted a net profit of 835.45 billion yuan, up 50.3 percent from a year earlier, compared with a 50 percent surge in the first eight months, SASAC said.
Their revenue climbed 38.3 percent to 12 trillion yuan in the first nine months while it jumped 40.4 percent in the first eight months. The central SOEs paid a total of 992.4 billion yuan in taxes, up an annual 23.6 percent.
Their net earnings in September rose 6.9 percent from a month earlier to total 111.9 billion yuan, according to the State-owned Assets Supervision and Administration Commission. The SOEs' profit expanded 11.49 percent in August.
In the first three quarters of the year the SOEs posted a net profit of 835.45 billion yuan, up 50.3 percent from a year earlier, compared with a 50 percent surge in the first eight months, SASAC said.
Their revenue climbed 38.3 percent to 12 trillion yuan in the first nine months while it jumped 40.4 percent in the first eight months. The central SOEs paid a total of 992.4 billion yuan in taxes, up an annual 23.6 percent.
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