Biz News Flash
SOEs see Jan-Sept profits down 17.6%
(Xinhua)
Updated: 2009-10-20 09:37
Profits of China's State-owned enterprises (SOEs) continued to fall in the first nine months from a year earlier, but the decline was smaller than those of the first eight months.
Profits in the country's SOEs fell 17.6 percent year-on-year in the first nine months to 936.61 billion yuan ($137.13 billion), two percentage points lower compared with the Jan-Aug period, the Ministry of Finance (MOF) announced Monday.
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Profits of central SOEs totaled 679.68 billion yuan from January to September, down 13 percent from a year earlier. Central SOEs covered 133 centrally-administered SOEs and 82 SOEs affiliated to central departments.
Business revenue of SOEs fell 1.7 percent year-on-year to 15.84 trillion yuan in the first nine months.
