China’s SOE profits has grown in H1

Beijing. Jul 26. Silkroadnews - Official data showed, the growth in profits of China’s state-owned enterprises accelerated in the first half of the year, Xinhua reports.
According to the Ministry of Finance, the total profit reached 1.72 trillion yuan (about $253 billion) for January-June, which is 21.1% more than in the previous year.
The growth rate accelerated from 20.9% growth registered in the first five months.
The revenues of SOEs increased 10.2% to 27.8 trillion yuan in the first six months, and their operating expenses rose 9.5% year-on-year to 26.7 trillion yuan.
By the end of June, the total assets of state-owned enterprises reached 171 trillion yuan, up 9.4% year-on-year, while liabilities climbed 8.8% to 111 trillion yuan.
In the first half of the year, state enterprises in such sectors as ferrous and non-ferrous metallurgy and oil and gas sector demonstrated a dramatic increase in profits.