Special Report:Global Financial Crisis
BEIJING, Dec. 25 (Chinese media) -- Profits of state-owned enterprises (SOEs),
which are supervised by provincial state assets watchdogs in China, dropped 12.3
percent in past 11 months, said an official with the State Council on Thursday.
"It's difficult to maintain growth as the outside environment was not
good," said Li Rongrong, director of the State-owned Assets Supervision and
Administration Commission (SASAC) under the State Council, adding the situation
next year would be "grim".
Figures with the SASAC showed profits of provincial SOEs and enterprises
mainly controlled by these SOEs were 274.4 billion yuan (about 39.2 billion U.S.
dollars) from Jan. to Nov., while sales revenue grew 22.9 percent to 5.8
trillion yuan.
Profits of SOEs directly under the central government's supervision dropped
sharply by 26 percent to 683 billion yuan in the same period, with a sales
revenue of 10.8 trillion yuan, up 20.2 percent from a year earlier.
The tax revenue from both provincial and centrally administered SOEs stood
at 1.27 trillion yuan, up about 20 percent.
Li said SOEs should "build a strong body" by "improving their inner
ability", which means improving management over production.
He also urged management of these SOEs to give priority to employment
stability and refrain from cutting payrolls, saying SOEs should shoulder more
responsibilities in the face of the international financial crisis.
According to SASAC figures, there were 1,043 provincial SOEs by the end of
Nov. this year.
China central SOEs
see profits drop by 26% in 1st 11 months
BEIJING, Dec. 15 (Chinese media) -- China's state-owned enterprises
(SOEs) directly under the central government reported a sharp profit decline of
26 percent in the first 11 months this year, figures released Monday showed.
These SOEs posted a business
revenue of 10.76 trillion yuan in the first 11 months, up 20.2 percent
year-on-year. Full story
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