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BEIJING (MNI) - Profits made by China's state-owned and -controlled
companies surged in May from April to near the same level as a year ago as major
indicators significantly improve, the Ministry of Finance said in a statement on
its website on Monday.
China's SOEs last month collectively made 251.1% of the profits seen in
April, or 94.5% of the level a year ago, according to the ministry's statement.
Total revenues in May were 98.6% of those from a year ago, according to the
Combined profits from the first five months were still down 52.7% y/y to
CNY663 billion, with central government SOE's making up about 80% of the total
and local SOEs accounting for the rest, according to the data.
The data excluded those of financial firms, the ministry said.
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