China SOE Profits Soar

December 18th, 2010
in News, Background

Beijing (China Daily):  Profits of China's State-owned enterprises (SOEs) in the first 11 months hit 1.81 trillion yuan ($271.92 billion), up 43.1 percent year-on-year, figures released Friday by the Ministry of Finance (MOF) show.

Follow up:

But profits in November were down 2.6 percent compared to the previous month, a website statement by the MOF said.

The statement did not give reasons for the decrease in profits.

Business revenue totaled 27.34 trillion yuan in the period, up 32.5 percent year-on-year. Revenue in November alone was 6.4 percent higher than in October.  Read more..... 

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