First half of the profits of state-owned enterprises increased by over a third, in which iron and steel, petrochemicals, machinery industry realized profits of the three biggest increase in iron and steel industry profits increased as much as 116%. Ministry of Finance, Corporate Financial Express recently reported data show that the first half of this year, the state-owned enterprises realized profits and taxes paid to continue to maintain a rapid growth, further improve the quality of business operation, the main economic indicators continued to maintain double-digit growth.

According to preliminary statistics, the Ministry of Finance Corporate Financial Express, 1 to 6 months, the state-owned enterprises realized total sales revenue of 8.37234 trillion yuan, up 20.9%; profit of 753.5 billion yuan, up 31.5%; taxes paid 776.94 billion yuan, up 23.9% .

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Letters show that in the first half to run state-owned enterprises showed several major features:

Profitability of state-owned enterprises and further improve the quality of capital operation. 1 to 6 months, the state-owned enterprise sales profit rate of 9%, up 0.7 percentage points; cost margin was 9.9%, up 0.7 percentage points; Net assets profit margin of 7%, up 0.9 percentage points.

Further improve the quality of asset management. State-owned enterprises inventory turnover was 2.8 times, 0.1 times speed up over the previous year; accounts receivable turnover ratio 6.1 times, 0.3 times speed up over the previous year. Assets and liabilities was 55.6%, down 0.2 percentage points.

Major industrial sectors to achieve higher profits and increased taxes paid. From the profits of view, iron and steel, petrochemical, machinery, chemicals, electric power industry profits rose by more than 50%, respectively, 116%, 95%, 73.6%, 63.7% and 59.4%. Coal, automobile industry profits were up 28% year on year, 45.6%, 10.7% of the oil industry declined. View from the taxes paid, steel, petrochemicals, automobiles, building materials, nonferrous metal industry paid taxes year on year growth of 43.4%, respectively, 43%, 35.4%, 35.3% and 34.2%.

In the western region of state-owned enterprise economic growth significantly, the highest increase in profits in central and western regions the highest increase in taxes paid. 1 to 6 months, the central region a profit of 44.9 billion yuan, up 58.1%; taxes paid 53.94 billion yuan, an increase of 22.8%. Profit of 30.47 billion yuan west, an increase of 38.9%; taxes paid 30.19 billion yuan, an increase of 24.9%. Profit of 136.3 billion yuan in eastern, up 30.1%; taxes paid 134.05 billion yuan, an increase of 16.2%.

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Keep up the efficiency and quality increase while state-owned economic enterprises run there are still some contradictions and problems, the most prominent cost of excessive growth in the enterprise, increasing overcapacity in some industries and so on. According to Express, 1 to 6 months, the national state-owned enterprises cost of sales, selling expenses, administrative expenses, financial expenses increased by 23%, 16.1%, 15.5% and 16.9%; inventory increase of 18.7%.