Location: Home > Information > Latest News

Chinese SOEs' profits continue falling Jan-May

Source:   Time:

BEIJING, June 15 (Xinhua) -- Profits from China's state-owned enterprises (SOEs) fell 10.4 percent year on year to 830.13 billion yuan (133.56 billion U.S. dollars) in the first five months of 2012, new figures have shown.

On a monthly basis, the SOEs' combined profits declined 11.8 percent in May, with the pace of decrease accelerating sharply from April's 0.5-percent drop, according to statement posted on the website of the Ministry of Finance.

The ministry did not provide an explanation for the trend but said sectors including non-ferrous metals, chemicals, construction materials, machinery and petrochemicals witnessed steep declines in their January-May profits.

In the first five months, the SOEs' business revenues totaled 16.19 trillion yuan, up 11.3 percent year on year, the ministry said. The growth also slowed from the 12.4-percent rise registered in the January-April period.

[Relative Articles]

Copyright Reserved 2010 © South-East Asia & South Asia Infoport  | Filing Number:ICP 09005773
Technical Support:China Basalt Software Technology Co., Ltd.