Profits of China's state-owned enterprises (SOEs) in the first seven months of this year was RMB 1.29558, an increase of 7.6% compared to last year, announced the Ministry of Finance (MOF).
The growth rate is slightly higher than the 7% growth recorded in the first half.
Profits of the central SOEs has risen for the January-July period by 14.9 % from a year earlier to RMB 945.84 billion, while the profit of local SOEs has fallen over the same period by 8.2% yearly to RMB 349.74 billion.
In the first seven months, SOEs have achieved RMB 25.62 trillion business revenue by 10.6% compared to the previous year.
In January-July period the most increased profits are in the sectors of electronics, energy, petrochemical and construction of buildings, while non-ferrous metallurgy, chemical industry, coal production and transport have reported a substantial decline in profits.