China’s central SOEs’ profit up 19.2% in January-April

BEIJING — China's central State-owned enterprises (SOEs) saw 19.2 percent profit growth in the first four months of 2018, official data showed on May 31.

Combined profits stood at 530.65 billion yuan ($82.73 billion), said the State-owned Assets Supervision and Administration Commission (SASAC).

Central SOEs' profits mounted to a historic high in April, the SASAC said.

More than half of all companies saw profit growth of more than 10 percent and near 40 companies saw growth of more than 20 percent.

In the period, the total operating revenue of central SOEs reached 8.6 trillion yuan, up 9.1 percent. Their total expenditures rose at a slower pace than the growth of revenue, the SASAC said.