Statistics

Chinese SOEs net profits jump 30.2% in Jan-Feb

(Xinhua)
Updated: 2011-03-23 11:15

BEIJING - China's centrally-administered State-owned enterprises (SOEs) reported a net profit of 131.94 billion yuan ($20.11 billion) in the January-February period, up 30.2 percent year on year, the country's SOEs regulator said Tuesday.

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According to a statement of the State-owned Assets Supervision and Administration Commission (SASAC), the combined business revenue of the 121 centrally administered SOEs rose 27.4 percent year on year to 2.7692 trillion yuan ($422.2 billion) in the first two months of this year.

The centrally administered SOEs handed in 277.14 billion yuan of taxes from January to February, up 32.5 percent from the same period of last year.

Business revenue of the 121 centrally administered SOEs was an equivalent to about 42 percent of China's gross domestic product last year, while the taxes turned in by those SOEs accounted for about 17 percent of the nation's total fiscal revenue.