The central government's State-owned enterprises(SOEs) posted better-than-expected net profits of535.32 billion yuan in the first half of 2017, thanksto supply-side reform, innovation and curbs oncapital outflow, the State-owned Assets Supervisionand Administration Commission said on Tuesday.
The half-year profits represent a year-on-year growthof 18.6%, with double-digit growth each month.
Profits in June reached 159.67 billion yuan, hitting arecord high since the statistics became available.
Of the 102 central SOEs, 99 were in the black, 48 had profits grow by more than 10% and 29had profits increase by more than 20%.
Shen Ying, chief accountant of the State-owned Assets Supervision and Administration Commission, said the government will further tighten State capital supervision, enhance riskcontrol and deepen SOE reform by cutting unnecessary administrative bodies,strengthening debt risk control and applying capital outflow restraints.
The total revenue of central SOEs amounted to 12.5 trillion yuan in the first half of the year, up16.8% year-on-year, also seeing double-digit growth for six consecutive months.
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