China’s central State-owned enterprises (SOEs) realized a 31.2 per cent profit growth year-on-year in the first quarter, based on steady growth of output and more effective control of costs.
A release by the State-owned Assets Supervision and Administration Commission (SASAC) yesterday said the more than 170 central SOEs – those directly supervised by the central government – altogether realized profits of 140.4 billion yuan (US$17 billion) in the first three months.
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