State-owned enterprises profits rise over 25%
March 28, 2018
China’s state-owned enterprises (SOEs) saw profits rise by 25.3% in the first two months of the year. The results are better than expected and set the trend for the rest of the year, official data shows today.
Combined SOE profits rose to 367.3 billion yuan (around $58.5 billion) for the January-February period, the Ministry of Finance said according to the Chinese state broadcaster Xinhua.
China’s SOEs make up a large proportion of the economy in areas like energy, telecoms and natural resources. An increase in profits for these SOEs is a good indicator of the economy. Some of these SOEs have even branched out into other countries for various projects.