Economy

China's central SOEs post $80.1 billion in H2 profit

(Xinhua)
Updated: 2010-07-19 21:49

BEIJING -?China's centrally-administered state-owned enterprises (SOEs) reported combined profits of 542.96 billion yuan ($80.1 billion) during the first half of this year, the nation's SOE watchdog said Monday.

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The figure represented an increase of 207.02 billion yuan from one year ago, the State-Owned Assets Supervision and Administration Commission (SASAC) said on its website, without giving reasons for the increase in profits.

The report indicated that combined business revenue of the centrally administered SOEs rose 44.3 percent year on year to 7.79 trillion yuan during the first six months of the year. The growth rate was 4.4 percentage points slower than during the first five months of 2010.

There are currently 126 centrally-administered SOEs under the SASAC.