Profits of Chinese SOEs continue to rise in September

Source: Xinhua| 2020-10-31 22:27:39|Editor: huaxia

BEIJING, Oct. 31 (Xinhua) -- Profits and revenues of China's state-owned and state-controlled enterprises (SOEs) continued to post year-on-year growth in September, official data showed.

The combined profits of SOEs increased 52.5 percent year on year in September, while combined operating revenues went up 9.2 percent, according to data by the Ministry of Finance.

In the first nine months, their profits went down 16 percent year on year to 2.28 trillion yuan (about 339 billion U.S. dollars), narrowing by 8.2 percentage points from the decline in the first eight months.

SOEs generated a combined revenue of 44 trillion yuan in the January-September period, recovering to 99.3 percent of the level seen during the same period last year, the ministry said. Enditem