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Thursday, July 12, 2018, 16:42
China's central SOEs deliver strong performance in H1
By Xinhua
Thursday, July 12, 2018, 16:42 By Xinhua

This undated photo shows a worker checking a molten steel at an iron and steel plant in Dalian, Liaoning province. (LIU DEBIN / CHINA DAILY)

BEIJING - Profits of China's centrally-administered state-owned enterprises (SOEs) surged 23 percent from a year earlier in the first half of 2018, official data showed Thursday.

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Combined profits of China's central SOEs totaled 887.79 billion yuan (US$133.1 billion) in the January-June period, the State-owned Assets Supervision and Administration Commission (SASAC) said.

In June, central SOEs' profits increased 26.4 percent year on year to a historic high of 201.88 billion yuan, according to Peng Huagang, a spokesperson for the SASAC.

READ MORE: Deleveraging efforts at central SOEs gather speed

The total revenues of central SOEs stood at 13.7 trillion yuan in the first half, up 10.1 percent year on year.

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