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China's SOEs see smaller profit decline in first 5 months

(Xinhua)
Updated: 2009-06-27 16:01

China's State-owned enterprises (SOE) administered by the central government saw smaller decline in profit as the stimulus package had positive effects on their performances.

The 138 central SOEs reaped profit of 238.91 billion yuan ($35.13 billion) in the first five months, down 31.5 percent year on year, but 4.5 percentage points lower than the January-April figure, said the State-owned Assets Supervision and Administration Commission Friday.

Related readings:  SOEs profits down 32.3%, decline slows  SOEs' operating revenue down 7.3% in first four months  Profits of China's central SOEs decline in Q1, but more slowly

The profit for May was 58.08 billion yuan, 6.7 percent less than a month ago.

The business revenue in the first five month was 4.19 trillion yuan, 9 percent less year on year, but 0.2 percentage points lower than the first four months data.

Their revenue in May was 951.7 billion yuan, up 6.3 percent from a month ago.