SOEs sustain profit trend
Print Edition
CHINA’S state-owned enterprises continued to generate profit in the first seven months of 2014, according to statistics released by the Ministry of Finance yesterday.
The steel, transport and building material sectors gained strong year-on-year growth, while the coal and chemical industries saw their profits fall in the same period, the ministry said, without revealing the figures.
Meanwhile, the nonferrous metal business suffered from sustained losses.
State-owned financial companies are not in the report.
SOEs posted a revenue of 27.27 trillion yuan (US$4.44 trillion) in the January-July period, up 5.8 percent annually. Their profits rose 9.2 percent year on year to 10.44 trillion yuan.
The latest data also showed the profit growth rate was 0.3 percentage points higher than in the first six months.
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