Profits at SOEs fall by 13.2%
By Richard Fu |
August 16, 2012, Thursday
|
Print Edition
Print Edition
PROFITS of China's state-owned enterprises declined 13.2 percent in the January-July period, widening from the 11.6 percent drop for the first half of this year, official data showed yesterday.
The SOEs posted a combined profit of 1.2 trillion yuan (US$188 billion) in the first seven months, the Ministry of Finance said. Profits fell 11.6 percent in July from June, it said.
The finance ministry's survey doesn't cover SOEs in the financial industry.
The widening profit decline came as China's overall economy slowed, as companies struggled with costs and slowing demand.
Revenues of these SOEs totaled 23.3 trillion yuan in the January-July period, up 10.4 percent year on year. Revenues fell 9 percent in July from June, it said.
Net sales profit margin of the SOEs stood at 3.8 percent in the first seven months, compared with 4.9 percent in the same period a year earlier.
SOEs in industries such as chemicals, nonferrous metals and petrochemicals posted sharp declines in earnings in the January-July period, the ministry said.
The SOEs posted a combined profit of 1.2 trillion yuan (US$188 billion) in the first seven months, the Ministry of Finance said. Profits fell 11.6 percent in July from June, it said.
The finance ministry's survey doesn't cover SOEs in the financial industry.
The widening profit decline came as China's overall economy slowed, as companies struggled with costs and slowing demand.
Revenues of these SOEs totaled 23.3 trillion yuan in the January-July period, up 10.4 percent year on year. Revenues fell 9 percent in July from June, it said.
Net sales profit margin of the SOEs stood at 3.8 percent in the first seven months, compared with 4.9 percent in the same period a year earlier.
SOEs in industries such as chemicals, nonferrous metals and petrochemicals posted sharp declines in earnings in the January-July period, the ministry said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
