SOE profits up 43% in first 11 months
PROFITS of China s State-owned enterprises (SOEs) in the 11 months to November hit 1.81 trillion yuan (US$271.92 billion), up 43.1 percent year on year, figures released Friday by the Ministry of Finance (MOF) show.
But profits in November were down 2.6 percent compared with the previous month, a Web site statement by the MOF said. The statement did not give reasons for the decrease in profits. Business revenue totaled 27.34 trillion yuan in the period, up 32.5 percent year on year. Revenue in November alone was 6.4 percent higher than that in October. During the 11 months, the SOEs paid a total of 2.23 trillion yuan in taxes, up 21.4 percent year on year.
Huizhou sees record trade
HUIZHOU City reported record foreign trade of US$30.94 billion in the eleven months to November this year, exceeding the total volume in 2008, according to the Shenzhen Customs.
The city achieved trade surplus of US$5.58 billion in the eleven months, a year-on-year 24 percent growth.
Walmart opens 1st Guangzhou supercenter
U.S. retail giant Walmart opened its first Guangzhou supercenter Friday onYuncheng Road East in Baiyun District.
Since opening on the Chinese mainland in 1996, the Shenzhen-headquatered Walmart China has opened 211 stores on the mainland, including 12 supercenters and one Sam s Club in Shenzhen. The first Sam s Club in Guangzhou was opened in Panyu District last October.
