business

China State Construction reports growth in first 3 quarters

BEIJING, Nov. 1 (Xinhua) — China State Construction Engineering Corporation, the country’s leading investment and construction group, saw its operating revenue up 10.5 percent year-on-year in the first three quarters.

The growth rate was 4.3 percentage points higher than that of the first half of 2020, the state-owned company said in a statement it filed with the Shanghai Stock Exchange.

Its operating revenue stood at nearly 1.08 trillion yuan (about 160.73 billion U.S. dollars) in the first nine months, according to the statement.

The company’s net profit attributable to shareholders of listed companies during the period came in at 31.14 billion yuan, reversing the previous downward trend and gaining 3.9 percent year-on-year.

In the first three quarters, China State Construction signed new contracts worth 2.23 trillion yuan, up 9.3 percent from a year ago.

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