State-owned firms' profits rise 22.3 percent year on year

China's Ministry of Finance issued a report on July 18 telling the status of state-owned enterprises, which found that from January to June, gross profits increased by 22.3 percent year on year.

The gross trading revenue of state-owned enterprises totaled 17.4 trillion yuan, a year-on-year increase of 24.4 percent, while gross profit totaled 1.1 trillion yuan.

In the first half of 2011, the principal performance indicator of state-owned enterprises maintained a growth rate above 20 percent, but the growth rate of overhead has been relatively high.

State-owned enterprises that account for a relatively large share of the year-on-year profit growth fall into the following sections: building materials, chemical industries, non-ferrous metals, coals and commerce.

By People's Daily Online
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