Net profits of China's central SOEs hit 1.2t yuan in January-July

2021-08-19
Xinhua

BEIJING — Net profits of China's centrally-administered State-owned enterprises (SOEs) saw robust growth amid steady economic recovery and reforms to make their operations more efficient, data from the country's top State assets regulator showed.

During the January-July period, net profits of central SOEs soared 112.4 percent on a yearly basis to 1.2 trillion yuan (about $185.03 billion), the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council said in a conference.

According to the SASAC, the country's 96 central SOEs raked in 20 trillion yuan in combined revenues in the first seven months of 2021, up 27.4 percent year-on-year.