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November Year to Date Profit for State Owned Enterprises Down 7 Percent

According to data released by the Ministry of Finance on December 14, 2012, November year to date profit for State Owned Enterprises was 1.94 trillion yuan (US$310 billion), down seven percent compared to the same period last year.

The revenue for November year to date was 37.94 trillion yuan (USD$6.08 trillion), up 10.9 percent from the same period in 2011 and 11.8 percent from October. The industries that showed the largest increase in profit included electric power, tobacco, electronics, light industry, and the auto industry. The industries that showed the sharpest decrease in profits include the chemical industry, nonferrous metals, transportation, construction material, and mechanical areas.

Source: Xinhua, December 15, 2012