BUSINESS China's central SOEs report steady H1 profit growth

BUSINESS

China's central SOEs report steady H1 profit growth

Xinhua

15:52, July 17, 2021

China's centrally-administered State-owned enterprises (SOEs) saw steady growth in profits in the first half of 2021, data by the country's State asset regulator showed Tuesday.

Workers carry out tasks relating to construction of a refinery project at a petrochemical industry base in Lianyungang, Jiangsu province. [Photo by Wang Jianmin/For China Daily]

The combined net profits of central SOEs amounted to 1.02 trillion yuan ($157.5 billion) in the first six months, according to the State-owned Assets Supervision and Administration Commission of the State Council.

The data put average year-on-year net profit growth for the same period of 2021 and 2020 at 20.6 percent.

During the January-June period, central SOEs raked in 17.1 trillion yuan in combined revenues.

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