SOEs' profits fall
Source: Xinhua |
November 19, 2011, Saturday
|
Print Edition
Print Edition
PROFITS of China's state-owned enterprises fell in October from the previous month, extending the downward trend to four consecutive months, the Ministry of Finance said yesterday.
October profits dropped 12.4 percent to 160 billion yuan (US$25 billion) from that of September, showing a reduction margin even greater than that of a month earlier.
Profits in the first 10 months expanded 16 percent year on year to 1.87 trillion yuan, and sales revenue increased 23.9 percent on an annual basis to 30.15 trillion yuan.
Profits of centrally-administered SOEs stood at 1.27 trillion yuan during the January-to-October period, up 12.1 percent year on year, but the October reading was down 20.7 percent from the previous month.
October profits dropped 12.4 percent to 160 billion yuan (US$25 billion) from that of September, showing a reduction margin even greater than that of a month earlier.
Profits in the first 10 months expanded 16 percent year on year to 1.87 trillion yuan, and sales revenue increased 23.9 percent on an annual basis to 30.15 trillion yuan.
Profits of centrally-administered SOEs stood at 1.27 trillion yuan during the January-to-October period, up 12.1 percent year on year, but the October reading was down 20.7 percent from the previous month.
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