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SOEs become profitable
click rate:1864 issue time:2007-03-10 08:12


Jan. 26, 2007 (China Knowledge) – China's State-owned enterprises (SOEs) made total profits of RMB 965 billion in 2006, said Li Rongrong, director of the State-owned Assets Supervision and Administration Commission (SASAC).


The senior official, who released the figures at the national work conference on state-owned assets administration on Thursday, said that the sales volume of the 159 central SOEs under the direct supervision of SASAC made a profit of RMB 755 billion in 2006, a 18% year-on-year increase.


The 1,031 local SOEs overseen by provincial or municipal-level governments made a profit of RMB 210 billion, a 38% increase.