Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Profits of China's SOEs down 27% in H1
Adjust font size:

Profits of China's state-owned enterprises (SOEs) slid 27 percent year on year in the first half of the year, but the decline rate started to narrow in the second quarter as the industrial expansion is gradually recovering.

Their profits totaled 553.4 billion yuan (US$81.38 billion) between January and June, according to the Ministry of Finance Thursday.

The decline was 3.3 percentage points smaller than the figure for the first five months.

Sales revenue fell 5.9 percent year on year to 9.79 trillion yuan.

Profits of the 138 central government-administered SOEs decreased 20.9 percent to 416.4 billion yuan.

China's SOEs have seen a smaller profit decline for four months as the economy started to rebound in the second quarter from the worst growth in a decade.

The industrial output tumbled to 3.8 percent in the first two months, but bounced back to 8.3 percent in March as the government's 4-trillion yuan stimulus package started to take effect.

The industrial output rose 7.0 percent in the first half, according to the figure released by the National Bureau of Statistics Thursday.

(Xinhua News Agency July 17, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Pet Name
China Archives
Related >>
- China's retail sales up 15 pct in H1
- China urban fixed-asset investment up 33.5 pct in H1
- China's FDI falls 17.9% in H1
- New yuan loans soar in H1 to US$54b
- China postal revenue up 13% to US$11.2b in H1
June 7 Tokyo 2nd China-Japan High-Level Economic Dialogu

June 30 Shanghai 2009 Automotive Engine Technology Seminar

September 8-12 Xiamen China Int'l Fair for Investment and Trade
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?