Chinese state firms to hand over more profits
(Xinhua) Updated: 2014-05-06 17:54BEIJING -- Chinese State-owned enterprises (SOEs) will pay 5 percent more of their profits to the government, the Ministry of Finance said Tuesday.
SOEs administered by the central government will pass on up to 25 percent of their profits depending on their line of business, according to the ministry.
The change is based on profits made from the beginning of this year.
The money will be used to improve social services, the ministry said.
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