SOEs Profits up 9.8% in 2009

BEIJING, Jan. 20 -- China's State-owned enterprises (SOEs) gained 1.34 trillion yuan ($196 billion) in profits in 2009, up 9.8 percent year-on-year, the Ministry of Finance said on its website Tuesday.

Centrally-administered SOEs' profits totaled 944.54 billion yuan in 2009, up 10.3 percent from the previous year. The profits of central SOEs' subordinate enterprises topped 765.26 billion yuan, up 14.3 percent year-on-year. Local-government-controlled SOEs'profits were 394.68 billion yuan, up 8.4 percent year-on-year.

SOEs' operating revenue in 2009 was 22.51 trillion yuan, up 5.9 percent year-on-year. The taxes imposed on these enterprises increased 12.1 percent year-on-year to 1.92 trillion yuan.

The costs of the SOEs totaled 21.26 trillion yuan, up 6.3 percent year-on-year.

Profits of the sectors of petrochemicals, automobiles, real estate and building materials keep rising. Power grid companies and railway transportation industries eventually turned a profit after losing money in the first 11 months.

The SOEs involved in the ministry statistics included 130 enterprises administered by the State-owned Assets Supervision and Administration Commission, on behalf of the central government, enterprises affiliated to 82 central departments, and those administered by provincial, regional and municipal governments.