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SOEs' net grows slowly
By Winny Wang |
September 18, 2010, Saturday
|
Print Edition
Print Edition
NET profit for China's state-owned enterprises administered by the central government grew at a slower pace in August, reflecting the country's moderate economic growth.
The SOEs earned a combined 723.55 billion yuan (US$107.56 billion) in the first eight months of this year, up 50 percent from a year earlier, compared with a 54.3 percent increase in the first seven months, the State-owned Assets Supervision and Administration Commission said yesterday.
Their revenue climbed 40.4 percent to 10.57 trillion yuan in the period, compared with a 42.4 percent increase in the first seven months. The central SOEs paid a total of 888.33 billion yuan in taxes, up an annual 22.6 percent, the commission said.
The number of central SOEs monitored by the commission declined from 196 at the beginning of 2003 to 123 last month.
There are further plans to cut the number of SOEs to between 80 and 100 this year through mergers and acquisitions to enhance efficiency and boost competitiveness among those which remain.
The SOEs earned a combined 723.55 billion yuan (US$107.56 billion) in the first eight months of this year, up 50 percent from a year earlier, compared with a 54.3 percent increase in the first seven months, the State-owned Assets Supervision and Administration Commission said yesterday.
Their revenue climbed 40.4 percent to 10.57 trillion yuan in the period, compared with a 42.4 percent increase in the first seven months. The central SOEs paid a total of 888.33 billion yuan in taxes, up an annual 22.6 percent, the commission said.
The number of central SOEs monitored by the commission declined from 196 at the beginning of 2003 to 123 last month.
There are further plans to cut the number of SOEs to between 80 and 100 this year through mergers and acquisitions to enhance efficiency and boost competitiveness among those which remain.
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