China's Big Five Industry-owned State Enterprise Profits Declined

On September 19, 2010, the Ministry of Finance website announced the economic performance of state-owned and state-owned holding companies from January to August. The profit of some state-owned enterprises showed a year-on-year increase, while the profits of the construction real estate, automobile, trade, steel, and machinery industries showed declines in varying degrees.
On September 19, Xiong Peng, a macroeconomic analyst at the Bank of Communications Financial Research Center, said in a telephone interview with reporters that adjustments in the economic structure had a certain impact on the profit growth of the construction real estate, automobile, commerce, steel, and machinery industries, but not This will bring too much fluctuation to the growth rate of the entire economy.
Xiong Peng said that structural adjustment will inevitably have an impact on economic growth, but it will have little effect on the growth rate of the economy; industrial adjustment may have a certain impact on investment, but the investment in the three carriages is mainly investment in infrastructure and Real estate investment, the two governments can control, non-governmental investment will gradually increase in the future, the prospect of consumption under the promotion of urbanization is good, there should be no major decline.
From January to August, state-owned enterprises realized a total profit of 1,264.47 billion yuan, an increase of 46.7% year-on-year, and an August increase of 6.8% from July. Among them, the accumulated profits of the central enterprises amounted to 877.27 billion yuan, an increase of 39.1% year-on-year, which was an increase of 9.4% from the previous month in July. On the other hand, local state-owned enterprises realized a total profit of 387.2 billion yuan, a year-on-year increase of 67.5%, which was a month-on-month increase of 0.6% in August. Among them, the profit rate of net assets of central enterprises was 7.6%, which was 1.1% higher than that of local state-owned enterprises.
From the same period of last year, except for the tobacco industry, profits of other major industries continued to maintain rapid growth. From a ring-point perspective, profits from the construction real estate, automobile, commerce, steel, and machinery industries showed declines to varying degrees; profits from coal, power, petrochemical, petroleum, and nonferrous metals industries showed an increase.

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