| China SOEs' Sales Revenue Up 25.7 Pct in H1 |
| Wednesday,July 23,2008 Posted: 10:37 BJT(0237 GMT) |
| From:Xinhua Article type:Reproduced |
The sales revenue of China's centrally-administered state-owned enterprises (SOEs) jumped 25.7 percent to 5.77 trillion yuan (84.6 billion U.S. dollars) in the first half of 2008, the state assets regulator said in Beijing on Tuesday. The growth was 5.4 percentage points higher than the same period a year earlier, according to State-owned Assets Supervision and Administration Commission (SASAC) statistics. Profit of these SOEs, however, was down 10.3 percent year on year to 425.6 billion yuan during the same period. Petroleum, petrochemical and power industries suffered the heaviest losses with coal and crude oil prices surging on the global market. Prices for electricity and oil products were capped by the government. With these industries deducted, profit of state companies would mark a year-on-year increase of 22.6 percent in the first six months, SASAC said. Some sectors reported a more than 30 percent increase in profit in the first half, including auto manufacturers, coal producers and the military industry, whose profit surged 70.3 percent, 44.4 percent and 33.8 percent respectively. |
| (Source: English Site of Singapore) |
All articles marked with "Article type: Original" posted on the website of the Ministry of Commerce and its sub-sites are copyrighted by this Website and its sub-sites. Any reproduction or use by any other websites, media or individuals must be attached with a clear indication of "Source: Ministry of Commerce Website".
All articles posted on this website or its sub-sites marked with "Article type: reproduced" or "Article type: translated" and "Article type: redistributed" come from other media, and are provided solely for the user's information, which does not mean this Website or its sub-sites endorse the ideas thereof or assume any legal liability or responsibility for their authenticity. Any other media, websites or individuals must maintain the source of information indication on this Website or its sub-sites when using the information, and shall assume legal liability for the use.
