China's major state-owned enterprises (SOEs) reported a
33.5-percent rise in profits for the first seven months, said the
State-owned Assets Supervision and Administration Commission of the
State Council on Monday.
Total profits of the 417 major enterprises rose to 661.5 billion
yuan (88.2 billion U.S. dollars) in the January-July period, from
495.5 billion yuan a year earlier.
The power, metallurgical, transportation, automotive and foreign
trade sectors rose by more than 67 percent, contributing 59.7
percent to the increased profits of the 28 sectors surveyed by the
commission.
Sales revenues of the 417 enterprises hit 6.9 trillion yuan in
the first seven months, up 20.5 percent from the same period last
year.
Meanwhile, their exports reached 343.6 billion yuan, up 17.9
percent, which was 10.9 percentage points lower than the rise in
the same period of last year.
With restrictions on exports of natural resources, the oil and
petrochemical sector saw its exports drop 28.3 percent, while
exports in the coal sector declined 15 percent.
(Xinhua News Agency September 4, 2007)
