Profits of China's SOEs up 13.7% in Jan-Nov
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Xinhua, December 21, 2011
The combined profits of China's state-owned enterprises and state-holdings companies rose 13.7 percent year-on-year to 2.04 trillion yuan ($322.01 billion) in the first 11 months of the year, the Ministry of Finance said Tuesday.
The growth was lower than the 16-percent rise in the January-October period and the 19.4-percent increase in the January-September period.
Business revenue of these companies totaled 33.48 trillion yuan in the first 11 months, up 23.2 percent from one year earlier, the ministry said.
Meanwhile, the companies' costs surged 23.9 percent year-on-year to 31.65 trillion yuan during the period.
Industries such as the chemical, construction materials, non-ferrous metals and coal sectors saw big increases in their profits in the first 11 months. However, others, including the transportation, power generation and steel sectors and the medical industry, all posted heavy losses, it said.
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