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August 20, 2010

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SOEs slowing

CHINA'S state-owned enterprises administered by the central government grew at a slower pace in net income in July, echoing moderate economic growth in the country.

The companies earned a combined 618.86 billion yuan (US$91.14 billion) in the first seven months of this year, rising 54.3 percent from a year earlier, compared with a 65.1 percent increase in the first six months, the State-owned Assets Supervision and Administration Commission said yesterday.

Their revenue rose 42.4 percent to 9.15 trillion yuan. The central SOEs paid a total of 792 billion yuan in tax, up 25.1 percent on a yearly basis.

 

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