Oct 24, 2014 (China Knowledge) – China's State-owned Enterprises saw their gross
profit grow 5.9% year on year to RMB 1.85 trillion in the first nine months of this year, according to the latest
statistics released by the Ministry of Finance.
SOEs administered by the central government realized a combined RMB 1.37 trillion in gross profit in the first nine months, 7.1% more than that in the same
period of 2013, while local SOEs saw gross
profit rose 3.1% year on year to RMB 625.32 billion.
combined operating revenue of the SOEs was RMB 35.15 trillion during the period from Jan to Sep, up 4.9% year on year. The operating
revenue of the centrally controlled enterprises rose 4% year on year to RMB 21.48 trillion, while that of the
locally administered SOEs rose 6.2% from a year earlier to RMB 13.66 trillion.
SOEs' cost and expenditure increased 5.2% to RMB 33.94 trillion during the period.
The automobile and machinery saw sharp year on year increases in profit
in the first nine months.
industry suffered a net loss in the period.