SOEs' profits dip
Source: Shanghai Daily |
January 19, 2013, Saturday
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Print Edition
Print Edition
Profits at China's state-owned enterprises fell 5.8 percent in 2012 but earnings have been improving month on month since August, the Ministry of Finance said yesterday. The SOEs reported a combined profit of 2.2 trillion yuan (US$354 billion) last year. Their profits surged 22.4 percent in December from November, reflecting a recovery in the economy. Revenue rose 11 percent to 42.38 trillion yuan last year. Sales in December jumped 12.6 percent from November. The ministry's survey doesn't include SOEs in the financial sector.
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