Half-year profits soar as 96 SOEs set new record

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At least 96 state-owned enterprises under the direct administration of State-owned Assets Supervision and Administration Commission (SASAC) have achieved a total 887.79 billion yuan (US$133.15 billion) in profit for the first half of this year, a rise of 23% from a year earlier and a historical high, Economic Information Daily reported.

The latter enterprises have realized a total operating income of 13.7 trillion yuan for the first six months, an increase of 10.1% from a year earlier.

Also, 37 of them have increased their profits by more than 20%, and 58 of them have increased by more than 10%.

Among them, the real economy, especially the industrial economy, has strengthened their profitability. Some major industries such as petroleum and petrochemical, metallurgy and thermal power, have a growth rate of more than 30%.

In particular, emerging industries such as the new energy sector has become an important profit growth point for central enterprises.

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