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SOE profits decline 13.8% in Q1

CCTV.com

04-26-2016 15:02 BJT

Full coverage: China's Economic Data

China’s state-owned enterprises booked a combined profit of 432 billion yuan in the first quarter of this year, down 13.8 percent year on year, according to fresh data from the Ministry of Finance.

The ministry says total revenues for SOEs in January-March stood at about 10 trillion yuan, down 3 percent year on year. But analysts say that the rates of decline slowed from the previous period by 0.4 and 2.8 percentage points, respectively. 

Such industries as coal and steel continued to suffer losses, while petrochemicals and the medical sector booked relatively high growth in profits.

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