SOE profits down
Source: Xinhua |
December 15, 2012, Saturday
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Print Edition
Print Edition
CHINA'S state-owned enterprises posted profit declines for the first 11 months of 2012 despite gains in their revenues, according to a Ministry of Finance report yesterday. Profits of SOEs fell 7 percent year on year to 1.94 trillion yuan (US$308.31 billion) in the January-November period, marking their smallest decline of 2012. In contrast with the decreasing profits, the combined revenue of SOEs totaled 37.94 trillion yuan, up 10.9 percent.
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