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| Major SOEs See Slower Growth in Profits Last Year |
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Major state-owned enterprises in China garnered 889 billion yuan (US$115.5 billion) last year, a growth of 18.6 percent over the previous year. According to latest data provided by the State-owned Assets Supervision and Administration Commission, the growth rate was 3.6 percentage points lower than the year-earlier level. The major state-owned enterprises number 445, including 159 central enterprises. Last year the major state-owned enterprises from electric power, nonferrous metal, textile, building materials, motor vehicle, foreign trade, light industrial and machinery sectors posted a profit growth higher than the average for the 445, while those from transport and electronics sectors suffered a profit decline. The 445 enterprises realized 1.04 trillion yuan (US$135.1 billion) in takings for their main business, up 19.3 percent, and 0.5 percentage points quicker, the commission sources said. Their foreign sales amounted to 566.1 billion yuan (US$73.5 billion, including transport cost and insurance premiums), up 34 percent year-on-year, the sources added. (Xinhua News Agency February 21, 2007) |
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