SHANGHAI :
Chinese SOEs' Profits, Revenues Grew for First Time This Year Last Month
Xu Wei
DATE:  Jul 23 2020
/ SOURCE:  Yicai
Chinese SOEs' Profits, Revenues Grew for First Time This Year Last Month Chinese SOEs' Profits, Revenues Grew for First Time This Year Last Month

(Yicai Global) July 23 -- China's state-owned firms resumed profit and revenue growth for the first time this year in June as the impacts of the Covid-19 pandemic subsided.

Net profits rose by 7.5 percent from a year ago, the finance ministry said in a statement on its website today. Operating incomes widened 7.1 percent from June 2019.

During the first six months of this year, net profits fell 44.6 percent to CNY754.7 billion (USD107.8 billion) from a year earlier. Meanwhile, operating incomes slid by 4.9 percent to CNY2.8 trillion (USD400.1 billion).

Editor: Emmi Laine

Follow Yicai Global on
Keywords:   SOE,Profit,Ministry of Finance