SOEs' Jan-July profit decreases 13.2%

The profit of State-owned enterprises in the first seven months of 2012 was 1.2 trillion yuan ($188.4 billion), down 13.2 percent year-on-year, according to a report on the website of the Ministry of Finance.

According to the report, the revenue of SOEs between January and July this year was 23.3 trillion yuan, up 10.4 percent year-on-year.

During the seven months, the tobacco, electric power and automobile sectors saw their profits increasing largely, while profits in the chemical, nonferrous metals, and transport sectors decreased significantly.

caixiao@chinadaily.com.cn