China's state-owned enterprises appear to be benefiting from the government's efforts to arrest a sharp slowdown in the Chinese economy but long-promised reform of the sector is still awaited.
Official data on Tuesday showed the earnings of Chinese SOEs excluding financial institutions fell by 0.1% to Rmb1.2 trillion $193 billion in the first six months of the year compared with a year earlier. But that compares with year-on-year declines of 3.3% for the January-May period and 21.5% for the first two months of the year, indicating that the situation is stabilising in response to the government's policy stimulus.
“Since June, the measures issued...
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