China’s State Firms Boost Net Profits 8% to USD196.2 Billion in First Half

Chinese state-owned firms increased their net profits and revenue in the first half of this year.

State companies boosted their net profits 8 percent from the previous year to CNY1.35 trillion (USD196.2 billion) in total, the Ministry of Finance released on its website today. The clip of June was lower than the rate of 9.3 percent growth during the first five months.

The firms’ net profits attributable to shareholders of their parents amounted to CNY829.55 billion (USD120.5 billion). The ministry did not provide a comparison point from last year.

The companies’ combined revenues climbed 7.8 percent from the same period of last year to CNY29.49 trillion. The growth was higher than the rate of 7.7 percent during the first five months.

Source: Yicai Global

Do NOT follow this link or you will be banned from the site!