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SOEs' profit eases slightly
By Wang Yanlin |
November 20, 2010, Saturday
|
Print Edition
Print Edition
NET earnings of Chinese state-owned enterprises gained 44.8 percent from a year earlier to 1.6 trillion yuan (US$240.6 billion) in the first 10 months of this year, the Ministry of Finance said yesterday.
Although the pace eased from the increase of 46 percent in the first three quarters, the growth was stable and reflected China's fast-expanding economy.
Revenue of the Chinese SOEs from January to October climbed an annual 33.9 percent to 24.5 trillion yuan.
But analysts warned that rising prices may eat into companies' earnings.
"Chinese SOEs are a big beneficiary of the country's stimulus measures," said Li Maoyu, an analyst at Changjiang Securities Co. "But with the fading effect of the stimulus and tightening monetary policies, state-owned companies may grow less quickly in the near future."
Higher production costs also ate into the SOEs' net earnings in October, said Dong Xian'an, an analyst at Industrial Securities.
"Much more expensive raw materials have eaten into, and will continue to erode, companies' profit margins," Dong said.
Although the pace eased from the increase of 46 percent in the first three quarters, the growth was stable and reflected China's fast-expanding economy.
Revenue of the Chinese SOEs from January to October climbed an annual 33.9 percent to 24.5 trillion yuan.
But analysts warned that rising prices may eat into companies' earnings.
"Chinese SOEs are a big beneficiary of the country's stimulus measures," said Li Maoyu, an analyst at Changjiang Securities Co. "But with the fading effect of the stimulus and tightening monetary policies, state-owned companies may grow less quickly in the near future."
Higher production costs also ate into the SOEs' net earnings in October, said Dong Xian'an, an analyst at Industrial Securities.
"Much more expensive raw materials have eaten into, and will continue to erode, companies' profit margins," Dong said.
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