Profits at SOEs drop to US$246b
Source: Xinhua |
October 19, 2012, Friday
|
Print Edition
Print Edition
PROFITS at China's state-owned enterprises fell 11.4 percent annually to 1.55 trillion yuan (US$246 billion) in the first three quarters of 2012, the Ministry of Finance said yesterday.
On a monthly basis, the SOEs' combined profits rose 2.8 percent in September, according to a statement posted on the ministry's website.
The profits of centrally-administered SOEs slid 7 percent from a year earlier to 1.09 trillion yuan in the first nine months, while SOEs under local governments saw profits drop 20.4 percent to 455.54 billion yuan.
During the first nine months, the electricity, tobacco, auto, post and telecommunications industries saw big profit gains, while transport, chemicals, construction materials, nonferrous metals and machinery firms suffered steep declines.
Chinese SOEs saw revenues grow 9.5 percent annually to 30.3 trillion yuan in the first nine months, the statement said.
Their net sales margin ratio was 3.8 percent, down 1 percentage point annually.
On a monthly basis, the SOEs' combined profits rose 2.8 percent in September, according to a statement posted on the ministry's website.
The profits of centrally-administered SOEs slid 7 percent from a year earlier to 1.09 trillion yuan in the first nine months, while SOEs under local governments saw profits drop 20.4 percent to 455.54 billion yuan.
During the first nine months, the electricity, tobacco, auto, post and telecommunications industries saw big profit gains, while transport, chemicals, construction materials, nonferrous metals and machinery firms suffered steep declines.
Chinese SOEs saw revenues grow 9.5 percent annually to 30.3 trillion yuan in the first nine months, the statement said.
Their net sales margin ratio was 3.8 percent, down 1 percentage point annually.
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