Key SOEs' profits top 500 billion yuan

As learned from the State-Owned Assets Regulatory Commission of State Council, in January-October, propelled by industries such as power, coal, oil, petrochemistry and foreign trade, 474 key state-owned enterprises (SOEs) witnessed accelerated growth of production and marketing and generated 518.26 billion yuan worth of profits, up 48.3 percent, with the growth rate standing at 3.4 percentage points year on year.

Of which, the industries of communications, coal, metallurgy, construction, building materials, foreign trade, chemistry, oil, petrochemistry and nonferrous metal chalked up fairly rapid growth of profits with the increase rate ranging between 59.5 percent and 5.2-fold.

In the first 10 months, 474 key stated-owned enterprises saw accelerated growth of production and sales, registered a total industrial output value (current price) of 3869.75 billion yuan, a 29 percent increase, with the increase rate being 0.6 percentage point faster year on year.

Of which, major industries such as coal, chemistry, power, oil and petrochemistry recorded faster growth rates of 2.5, 2.2, and 1.5 percentage points respectively year on year. Meanwhile, the main business income reached 5908.76 billion yuan, up 28.3 percent, with a faster growth rate of 0.7 percentage points year on year.

By People's Daily Online