First three quarters of 2018 sees profit increase for state-owned enterprises
By Bai Yuanqi
People's Daily app

1,349.1 billion yuan

China’s state-owned enterprises reap a profit of 1,349.1 billion yuan in the first three quarters of 2018, with a year-on-year increase of 21.5 percent, Vice Secretary-General Peng Huagang said on Monday during the briefing press conference of the State-owned Assets Supervision and Administration Committee.

The achievement represents the nation’s energy shift to green and sustainable industries, which allows for a much higher revenue-investment ratio.

Another notable success lies in cost reduction. The oil and power firms cut operating fees by 1 percent on average, an indirect boom to most citizens.