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Central SOEs' profits to near 900b yuan

12-29-2011 10:58 BJT

BEIJING - Profits for China's centrally-administered State-owned enterprises (SOEs) will rise to around 900 billion yuan ($142.86 billion) in 2011, up from 848.98 billion yuan last year, an official said Wednesday.

The economic value added of the 117 central SOEs will exceed 300 billion yuan in 2011, said Huang Shuhe, deputy director of State-owned Assets Supervision and Administration Commission.

The central SOEs have posted steady growth this year despite complicated global economic conditions, Huang said.

The SOEs have come through bottlenecks in 2011, improved corporate management, made new breakthroughs in key technologies, and enhanced their ability to self-innovate, Huang said.

The companies have also successfully completed special tasks given by the government and played a key role in promoting the country's steady economic growth, he added.

Meanwhile, Huang said the country will further improve performance evaluation systems for the central SOEs.

The central SOEs saw their profits up 3.6 percent year-on-year to 831.79 billion yuan during the first 11 months of 2011, official data showed.

 

Editor:Wang Xi |Source: People's Daily

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