SOE prof­its rise 2.8% in first 11 months

China Daily (Hong Kong) - - BUSINESS -

Prof­its of China’s State-owned en­ter­prises rose 2.8 per­cent in the first 11 months of the year com­pared with growth of 0.4 per­cent in the first 10 months, of­fi­cial data showed on Wed­nes­day. The SOEs made com­bined prof­its of 2.11 tril­lion yuan ($305.8 bil­lion) for Jan­uary-Novem­ber, the Min­istry of Fi­nance said. Prof­its of SOEs un­der cen­tral govern­ment con­trol fell 2.8 per­cent while those for lo­cally ad­min­is­tered SOEs climbed 16.9 per­cent year-on-year in the same pe­riod, both bet­ter than the per­for­mances in the first 10 months.

Cus­tomers look at hand­bags at Sel­fridges depart­ment store in cen­tral Lon­don on Mon­day dur­ing the postChrist­mas Box­ing Day sales. The num­ber of Bri­tons who hit the shops on Box­ing Day fell 6 per­cent ver­sus the same pe­riod last year, while on­line trans­ac­tions rose 11.5 per­cent year-on-year.

quar­tered in China’s north­east­ern re­gion — Liaon­ing, Jilin and Hei­longjiang prov­inces — a tra­di­tional in­dus­trial base bear­ing the brunt of the coun­try’s eco­nomic slow­down.

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