China's SOE profits grow at slower pace

Updated 2018-04-26 17:11:01 Xinhua

Profits at China's state-owned enterprises (SOEs) continued steady growth in the first quarter, but at a slower pace, data showed Thursday.

Combined profits amounted to 711.04 billion yuan (112.9 billion U.S. dollars) for January-March, up 16.7 percent from one year earlier, according to the Ministry of Finance.

The pace of growth eased from the 25.3-percent rise registered in the first two months.

SOE business revenue rose 8.9 percent to 12.95 trillion yuan in the first quarter, while their operating costs expanded 8.3 percent to 12.47 trillion yuan.

By the end of March, their total assets reached 164.08 trillion yuan, up 9.6 percent from a year earlier, while liabilities climbed 8.7 percent to 106.57 trillion yuan.

SOEs in sectors including steel, coal, petrochemical and power generation posted relatively large profit increases, while those in non-ferrous suffered significant declines.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58October 15 2018 23:14:09

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16October 15 2018 23:14:09

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18October 15 2018 23:14:09

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords