SOE 2017 Profit Rise

Pretax profits for China’s 98 largest SOEs rose 15.2% YoY to an all-time high of US$221 billion last year. Nearly 50 of these companies saw double-digit growth, according to Assets Supervision and Administration Commission Chief Accountant Shen Ying. Central SOEs span nearly all of China’s major industries, except finance. A number of the companies are on Nikkei’s Asia300 list of companies to watch. For example, PetroChina and China Mobile.