SOEs revenue soar in H1

Revenue of State-owned enterprises reached 23.31 trillion yuan ($3.76 trillion) in the first half, with year-on-year growth of 5.9 percent, according to statistics released by the Ministry of Finance on Thursday.

Meanwhile, profit of SOEs hit 1.22 trillion yuan, up 8.9 percent from the same period of last year.

SOEs involved in transportation, automobile and construction materials industries realized higher profit increase, while those engaged in coal, chemical engineering and textile manufacturing sectors witnessed year-on-year growth slowdown. Nonferrous metal industry, meanwhile, continued to record losses, the ministry said.

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