China’s SOEs see profits rise 18.9% in first 11 months

China saw profits rise 18.9% on average in 161 state-owned enterprises (SOEs) in the first 11 months of this year.

Total profits are expected to reach $92.3 billion. In a communist state, that's a lot of money to pass around.

Sales in the SOEs were up 21.8%, and taxes paid were up 23.5%.

In the past three years, revenue of core businesses of the central SOEs was up 78.8% and profits were up 140%.

China's SOEs are making money = able to pay back loans, put more money in the state coffers by way of taxes and provide for its citizens.

Uh..go! Communism.

What do you think?