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Central SOEs net profits up 14.2% Jan-May
Date: 2011/6/20 Click: 1579
China's State-owned enterprises (SOEs) that are administered by the central government, or central SOEs, collectively posted a net profit increase of 14.2 percent year-on-year in the first five months of 2011.

This increase was 4 percentage points lower than that of the first four months.

The combined net profits of the government's 121 central SOEs totaled 369.51 billion yuan ($56.8 billion) during the period, the State-owned Assets Supervision and Administration Commission (SASAC) said in a statement on its website Friday.

The administration did not give any explanation for the profit increase or the lower growth rate.

The SASAC said revenues for central SOEs rose 24.7 percent year-on-year to hit 7.82 trillion yuan from January to May.

The SOEs had 696.7 billion yuan payable in taxes and fees for the first five months, up 27.5 percent from the same period last year, according to the statement.
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