SOEs' profits gain
Source: Xinhua |
April 19, 2011, Tuesday
|
Print Edition
Print Edition
THE combined profits of China's state-owned enterprises rose 27.5 percent year on year to 512.35 billion yuan (US$77.6 billion) in the first quarter, the Ministry of Finance said yesterday.
The growth of operating costs was higher than that of business revenue, said a statement on the ministry's website. Business revenue totaled 8.09 trillion yuan, up 24.7 percent from a year earlier, the statement said.
Industries such as building materials, construction, real estate and chemical saw big gains in profits from January to March. Five major power generation companies, along with enterprises under the Ministry of Railways, posted losses, the statement said.
The growth of operating costs was higher than that of business revenue, said a statement on the ministry's website. Business revenue totaled 8.09 trillion yuan, up 24.7 percent from a year earlier, the statement said.
Industries such as building materials, construction, real estate and chemical saw big gains in profits from January to March. Five major power generation companies, along with enterprises under the Ministry of Railways, posted losses, the statement said.
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