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China's SOE revenues down 3.5% in first 8 months

(Xinhua)
Updated: 2009-09-18 22:17

BEIJING: Business revenues of China's state-owned enterprises (SOEs) dropped 3.5 percent in the first eight months from the same period last year, the Ministry of Finance (MOF) said Friday.

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Business revenue stood at 13.68 trillion yuan ($2.00 trillion) in the first eight months, with profits at 813.51 billion yuan ($119.11 billion), down 19.6 percent year on year.

The rate of decline in profits was 3.2 percentage points lower than the January-July figure.

The firms include SOEs directly controlled by the central government and SOEs supervised by local governments, but exclude state-owned financial enterprises.