China's central SOEs report 55 pct increase in net profits
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China's centrally-administered state-owned enterprises (SOEs) reported a 55-percent rise year on year in combined net profits in the first nine months, the SOE authority announced Thursday.
Net profits of central SOEs totalled 641.65 billion yuan (US$96.6 billion) from January to September, the State-owned Assets Supervision and Administration Commission (SASAC) said in a statement.
Combined business revenue reached 12.039 trillion yuan in the first three quarters, up 38.3 percent year on year, according to the statement.
The central SOEs turned in 992.42 billion yuan in taxes in the first nine months, up 23.6 percent from the same period last year.
The statement gave no reasons for the increase in net profits.
There are 122 centrally-administered SOEs under the SASAC after China National Service Corporation for Chinese Personnel Working Abroad merged with China National Pharmaceutical Group Corporation on Monday.
