Central SOEs' profits surge 60% in H1
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China's centrally administered State-owned enterprises (SOEs) saw their total profits surge almost 60 percent year-on-year to nearly 543 billion yuan ($80 billion) in the first half of this year, the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council announced on its website Friday.
The January-June revenue of the central SOEs totaled more than 7.79 trillion yuan, up 44.3 percent year-on-year. The growth rate was 4.4 percentage points lower than that of the January-May period.
On July 16, the Ministry of Finance announced that profits at China's SOEs surged 57.1 percent from a year earlier to 927.59 billion yuan in the first half of the year.
The SOEs include 128 enterprises administered by the SASAC, enterprises affiliated with 82 central government departments and those administered by provincial, regional and municipal governments.
