China's centrally-administered state-owned enterprises (SOEs) reported net profits of 917.33 billion yuan (141.3 billion U.S. dollars) in 2011, up 6.4 percent year-on-year, the country's SOEs regulator said Friday.
The growth rate was 33.8 percentage points down from a year earlier, partly due to the complicated economic situations at home and abroad, the State-Owned Assets Supervision and Administration Commission of the State Council said in a statement on its website.
However, it was up from the 3.6-percent increase recorded during the first 11 months of 2011, which indicated that profits of these companies rose significantly in December, the statement said.
Total revenues of those companies rose 20.8 percent to 20.24 trillion yuan last year, 11.3 percentage points lower than a year earlier, according to the commission.
Liu Cheng, a professor with the University of Science & Technology Beijing, said that the performance of the centrally-administered SOEs was generally a result of economic conditions at home and abroad, and it was no indication of any problems in their profitability.