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Profits of Chinese SOEs down in first five months
Updated: Jun 29, 2022
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BEIJING - The combined profits of China's State-owned enterprises (SOEs) declined 6.5 percent year-on-year to 1.63 trillion yuan ($243.5 billion) in the first five months of the year, official data showed on Tuesday.
The SOEs raked in 30.88 trillion yuan in operating revenue in the January-May period, 9.2 percent higher from the same period last year, according to data from the Ministry of Finance.
