Financial crisis sees Chinese companies' profits take 30% hit

Profits at China’s top state-owned companies fell 30% last year, hurt by the global financial crisis, but assets have increased.

The 141 banks, airlines, oil producers and other companies controlled by the central government reported net profit of 696.18 billion yuan (€69.3bn) last year, down 30.8% from the previous year, the official Xinhua News Agency said today.