BUSINESS China's SOEs see solid profit growth in first seven months

BUSINESS

China's SOEs see solid profit growth in first seven months

Xinhua

13:16, August 26, 2019

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An employee works at a steel plant in Ma'anshan, Anhui province. (File photo: VCG)

BEIJING, Aug. 26 (Xinhua) -- Profits of Chinese state-owned enterprises (SOEs) grew steadily in the first seven months of 2019, official data showed Monday.

The combined profits of China's SOEs rose 7.3 percent year on year to 2.14 trillion yuan (302.63 billion U.S. dollars) for the Jan.-July period, the Ministry of Finance said on its website.

Total revenues of the SOEs reached 34.47 trillion yuan during the period, up 7.7 percent from a year earlier.

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