China sets 9pc profit growth target for central SOEs

16 June, 2019 12:00 AM printer

BEIJING: China’s centrally-administered state-owned enterprises (SOEs) are expected to register a year-on-year profit growth of 9 percent this year, according to the country’s top SOE watchdog.

A group of 20 central SOEs from sectors including aerospace, energy, mining and construction have pledged to achieve a 12-percent growth in their combined profits in 2019, according to an online statement released Thursday by the State-owned Assets Supervision and Administration Commission (SASAC), reports Xinhua.

Hao Peng, head of the SASAC, said central SOEs have maintained steady growth since the beginning of 2019 despite the complicated economic situation at home and abroad, laying a solid foundation for the completion of various tasks throughout the year.