Central SOEs' tax payments decline

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THE growth of taxes turned over by centrally-administered state-owned enterprises has been slowing this year, as profits have dropped amid the economic slowdown.

Centrally-administered SOEs paid 1.7 trillion yuan (US$270.3 billion) in taxes from January to November, data released by the State-owned Assets Supervision and Administration Commission of the State Council showed yesterday.

The figure marked an increase of 12.8 percent from a year earlier and was 3 percentage points higher than the growth of national tax revenues in the same period, the data showed.

In the first 11 months, all SASAC-supervised SOEs paid a total of 2.5 trillion yuan in taxes, up 11.5 percent year on year, according to the data.

The Ministry of Finance has said profits at centrally-administered SOEs shed 2.7 percent on an annual basis to 1.09 trillion yuan in the first 11 months of this year.

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