SOEs profits rise
March 20, 2010, Saturday
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Print Edition
Print Edition
CHINA'S 127 centrally-administered state-owned enterprises reported total gross profits of 134.8 billion yuan (US$19.77 billion) in the first two months of this year, an annual surge of 121 percent, the state-owned assets watchdog said yesterday. The central SOEs' operating revenues jumped 52.1 percent from a year earlier to 2.18 trillion yuan in January and February, and the tax paid rose 43.2 percent to 221.72 billion yuan, according to the State-owned Assets Supervision and Administration Commission. Wang Zhigang, a researcher with the commission, said the huge annual increases were mainly attributed to poor performances in the same period last year, and were partially boosted by the overall economic situation and Spring Festival spending.
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