The profit state-owned enterprises in China grew by 21% in six months

State-owned enterprises in China in the first half of the year increased profit by 21.1% compared to the same period last year to 1 trillion 720 billion yuan, the Ministry of Finance of the PRC reported. Revenues of state-owned companies reached 27 trillion 800 billion yuan, increased by 10.2%. Operating expenses increased by 9.5% to 26 trillion 700 billion yuan. The total volume of assets of SOEs at the end of June increased in annual terms by 9.4% to 171 trillion yuan. The volume of liabilities reached 111 trillion yuan, increased by 8.8%. In the first half of the year, the most significant profit increase was recorded in the steel, oil and petrochemical industries.

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