China's SOEs profits slightly grow in 11 months
(MENAFN) Chinese state-owned enterprises (SOEs) profits grew at a slower pace in the first 11 months of 2014, data showed, QNA reported.
The combined profits of the company grew 4.5 percent annually to USD366 billion in the first 11 months, the Chinese Ministry of Finance said.
The pace was lower than 8.2 percent reported in the same period last year and 6.1 percent for the first 10 months of this year, local media showed, the decrease in profit growth was due to signs of a slowing Chinese economy.
The National Bureau of Statistics showed that the purchasing managers' index for the manufacturing sector slipped to an eight-month low of 50.3 in November.
The combined profits of the company grew 4.5 percent annually to USD366 billion in the first 11 months, the Chinese Ministry of Finance said.
The pace was lower than 8.2 percent reported in the same period last year and 6.1 percent for the first 10 months of this year, local media showed, the decrease in profit growth was due to signs of a slowing Chinese economy.
The National Bureau of Statistics showed that the purchasing managers' index for the manufacturing sector slipped to an eight-month low of 50.3 in November.
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