Tobacco SEOs most profitable in 2013

The State-owned enterprises (SOEs) administered by the central government in tobacco, petrochemical and petroleum, electric power, telecom and coal industries ranked the top five sectors that have achieved the highest earnings in 2013, according to data released by the Ministry of Finance (MOF) over the weekend.

The central government-administered SOEs in the tobacco sector saw their profits hit 29.57 billion yuan ($4.76 billion), making the sector the most profitable, according to the MOF.

The combined operating revenues for all the central SOEs in 2013 reached 105.8 billion yuan, the MOF said.