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China's central govt SOEs' net profits down 16.4% YoY in H1

Jul. 23, 2012 (China Knowledge) - The combined net profit of the state-owned enterprises centrally-administered by the State-owned Assets Supervision and Administration Commission of the State Council, or usually known as SASAC, decreased 16.4% YoY to RMB 387 billion in the first half this year, according to statistics released by State Council today.

Last month, the net profit of these SASAC’s SOEs grew 8% from a month earlier to RMB 69.52 billion.
During the period from January to June, these SOEs saw operating revenue increased 9% to RMB 10.57 trillion.  

Together, they paid RMB 1.02 trillion in taxes in the first six months of this year, 16.4% more than that in the same period of last year.

SASAC earlier reported that in the first quarter of this year, their SOEs booked RMB 5.01 trillion in operation revenue, rose 12.3% YoY, while their net profit amounted to RMB 181.37 billion in net profit, down 13.6% than a year earlier.

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