Biz China Weekly: REITs, SOE profits, trade surplus
BEIJING, June 26 (Xinhua) -- The following are the highlights of China's business news from the past week:
REITS
China's first batch of publicly traded real estate investment trusts (REITs) began trading on Monday, with five on the Shanghai Stock Exchange and four on the Shenzhen Stock Exchange.
The price change limit is 30 percent on the first day of listing and 10 percent after that.
These nine REITs focus on China's infrastructure systems and are expected to channel investment into projects such as highways, industrial parks, storage and logistics, and sewage treatment.
SOE PROFITS
Profit growth at China's state-owned enterprises (SOEs) stayed at an elevated level as the country's economic recovery continued to firm up, official data showed Wednesday.
The combined profits of SOEs surged 170 percent year on year to 1.79 trillion yuan (about 277 billion U.S. dollars) in the first five months of 2021, according to the Ministry of Finance.
Average profit growth for the same period in 2019 and 2020 came in at 13.5 percent.
TRADE SURPLUS
China's international goods and services trade surplus stood at 170.1 billion yuan in May, official data showed Thursday.
Last month, the country's trade income amounted to over 1.73 trillion yuan and expenditure was over 1.56 trillion yuan, according to data released by the State Administration of Foreign Exchange. Enditem
