Profits of SOEs continue to rise

0 Comment(s)Print E-mail Xinhua, December 25, 2020
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Profits and revenues of China's state-owned enterprises (SOEs) continued to grow in November, data showed Thursday.

The SOEs saw their aggregate net profits after taxes go up by 47.2 percent year on year last month, while the operating revenue climbed 6 percent, according to data from the Ministry of Finance.

In the first 11 months, the SOEs raked in 55.61 trillion yuan (about 8.51 trillion U.S. dollars) in revenues, up 0.8 percent year on year, said the ministry.

The growth is 0.6 percentage points faster than the rise in the Jan.-Oct. period, data from the ministry showed.

Their net profits after taxes totaled about 2.21 trillion yuan, down 7.1 percent year on year during the 11-month period, the ministry said.

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