| Profits in China's state firms fall 17.6% in first 9 months |
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| Friday,October 30,2009 Posted: 23:28 BJT(28 GMT) |
| From:Chinaview Article type:Reproduced |
Profits of China's state-owned enterprises (SOEs) continued to fall in the first nine months from a year earlier, but the decline was smaller than those of the first eight months.
Profits in the country's SOEs fell 17.6 percent year on year in the first nine months to 936.61 billion yuan (137.13 billion U.S. dollars), two percentage points lower compared with the Jan.-August period, the Ministry of Finance (MOF) announced Monday.
The MOF statement did not give the September figure alone but said it was 12 percent lower than the August profits.
Profits of central SOEs totaled 679.68 billion yuan from January to September, down 13 percent from a year earlier. Central SOEs covered 133 centrally-administered SOEs and 82 SOEs affiliated to central departments.
Business revenue of SOEs fell 1.7 percent year on year to 15.84trillion yuan in the first nine months.
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