Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

Chinese state firms' profit growth quickens as economy improves

March 28, 2017


Abstract : Profit growth at China's state-owned enterprises (SOEs) accelerated in the first two months of the year as the economy continued to improve, official data showed Monday.

BEIJING, March 27 (Xinhua) -- Profit growth at China's state-owned enterprises (SOEs) accelerated in the first two months of the year as the economy continued to improve, official data showed Monday.

SOEs made combined profits of 301.86 billion yuan (43.75 billion U.S. dollars) for January-February, up 40.3 percent from the same period a year ago, the Ministry of Finance said in a statement on its website.

This compared with an increase of 1.7 percent for the whole year of 2016 and a 14.2-percent decline registered in the same two months of 2016.

SOEs owned by the central government posted an annual profit rise of 23.7 percent in the first two months, while those owned by local governments soared 164.2 percent during the period.

The companies' combined revenue climbed 17.8 percent year on year to 7.24 trillion yuan while their operating costs rose 17 percent to 7.05 trillion yuan in the first two months.

The ministry said transport, electronics and light industries enjoyed relatively large profit growth, while firms in the machinery and power generation sectors suffered significant profit declines.

The world's second-largest economy expanded 6.7 percent in 2016, its slowest growth in 26 years. The latest indicators for January-February, including robust industrial profits as well as faster-than-expected growth in fixed asset investment and industrial output, suggested the economy was picking up steam.

Scan the QR code and push it to your mobile phone

Keyword: SOE state-owned-enterprise SOE-profit

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial