Company
08:00, 30-Dec-2018
China's SOE profits up 15.6 percent in January-November
Updated
07:58, 02-Jan-2019
["china"]
Share
Copied
Profits of China's state-owned enterprises (SOEs) went up 15.6 percent year-on-year to top three trillion yuan (440 billion U.S. dollars) in the first 11 months, the Ministry of Finance said on Saturday.
The growth pace was slightly slower than the 17.3 percent rise registered in the first 10 months.
SOEs saw their aggregate revenue rise 10.6 percent to over 52 trillion yuan (7.56 trillion dollars) in the first 11 months while operating costs expanded 10.3 percent year-on-year to 51 trillion yuan (7.41 trillion dollars).
"SOEs showed stronger debt paying ability and higher profitability than the same period a year ago," the ministry said, citing stellar performance in steel, petroleum and petrochemicals, and coal sector.
Total SOE assets increased 8.3 percent to over 178 trillion yuan (25.88 trillion dollars), while liabilities climbed 7.6 percent to more than 116 trillion yuan (16.86 trillion dollars).
Source(s): Xinhua News Agency