China's central SOEs report steady net profit growth in Jan-Sept

Source: Xinhua | 2019-10-18

Net profits of China's centrally-administered state-owned enterprises (SOEs) went up 7.4 percent year on year to over 1 trillion yuan (about 141.3 billion U.S. dollars) in the first nine months, official data showed Thursday.
The growth pace was slightly faster than the 6.9-percent increase registered in the first eight months, the State-owned Assets Supervision and Administration Commission (SASAC) said at a press conference.
"In September alone, the net profits of central SOEs stood at 113.36 billion yuan, up 11.4 percent from a year ago," SASAC spokesperson Peng Huagang said.
From January to September, central SOEs in the sectors such as power generation, construction and transportation registered rapid profit growth.
During the period, operating revenue of central SOEs expanded 5.3 percent from a year earlier to 22.1 trillion yuan.