SOEs post monthly decline in profits
Source: Xinhua |
October 19, 2011, Wednesday
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Print Edition
Print Edition
CHINA'S state-owned enterprises posted another monthly fall in profits in September, extending the downward trend that began in July, according to a statement by the Ministry of Finance yesterday.
Gross profits of the SOEs rose 19.4 percent annually to 1.71 trillion yuan (US$264.5 billion) in the first nine months.
But the SOEs have suffered a monthly decline in profits since July, with profits down 5 percent in July, 10.5 percent in August and 2.7 percent in September.
The gross profits of the centrally administered SOEs climbed 15.6 percent annually to almost 1.17 trillion yuan in the first three quarters while those under the local governments saw their profits increase 28.4 percent to 544.51 billion yuan, according to the ministry.
Net profits of the SOEs during January-September totaled almost 1.29 trillion yuan, said the ministry.
Business revenues rose 24.3 percent annually to 27.05 trillion yuan during the first nine months. On a monthly basis, the SOEs' revenues gained 3.9 percent in September.
The business revenues of centrally administered SOEs rose 23.6 percent to 17.2 trillion yuan in the first three quarters while that of the SOEs under the local governments gained 25.6 percent to 9.85 trillion yuan, according to the ministry.
The SOEs have paid taxes of 2.30 trillion yuan, up 26.6 percent from a year earlier. The rate of return on equity reached 5.8 percent, up 0.1 percentage point over the previous year, the ministry said.
Gross profits of the SOEs rose 19.4 percent annually to 1.71 trillion yuan (US$264.5 billion) in the first nine months.
But the SOEs have suffered a monthly decline in profits since July, with profits down 5 percent in July, 10.5 percent in August and 2.7 percent in September.
The gross profits of the centrally administered SOEs climbed 15.6 percent annually to almost 1.17 trillion yuan in the first three quarters while those under the local governments saw their profits increase 28.4 percent to 544.51 billion yuan, according to the ministry.
Net profits of the SOEs during January-September totaled almost 1.29 trillion yuan, said the ministry.
Business revenues rose 24.3 percent annually to 27.05 trillion yuan during the first nine months. On a monthly basis, the SOEs' revenues gained 3.9 percent in September.
The business revenues of centrally administered SOEs rose 23.6 percent to 17.2 trillion yuan in the first three quarters while that of the SOEs under the local governments gained 25.6 percent to 9.85 trillion yuan, according to the ministry.
The SOEs have paid taxes of 2.30 trillion yuan, up 26.6 percent from a year earlier. The rate of return on equity reached 5.8 percent, up 0.1 percentage point over the previous year, the ministry said.
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