Data released by the Ministry of Finance on July 17 show that from January to June 2014, the main economic efficiency indicators of state-owned and state-controlled enterprises nationwide (hereinafter referred to as state-owned enterprises) covered by this monthly report statistics grew year on year, but nearly one-third of centrally managed enterprises and local state-owned enterprises in nearly half of the provinces recorded negative growth in total profits or losses.
　　I. Main Economic Efficiency Indicators
　　(I) Total operating revenue. From January to June, state-owned enterprises achieved cumulative total operating revenue of 23,306.53 billion yuan, up 5.9% year on year. (1) Central enterprises recorded 14,246.31 billion yuan, up 4.9% year on year. (2) Local state-owned enterprises recorded 9,060.21 billion yuan, up 7.4% year on year.
　　(II) Total operating cost. From January to June, state-owned enterprises incurred cumulative total operating cost of 22,472.38 billion yuan, up 6% year on year, of which selling expenses, administrative expenses and financial expenses grew 9%, 2.5% and 20.6% year on year respectively. (1) Central enterprises recorded 13,542.77 billion yuan, up 4.9% year on year, of which selling expenses, administrative expenses and financial expenses grew 9.6%, 2.8% and 24.3% year on year respectively. (2) Local state-owned enterprises recorded 8,929.61 billion yuan, up 7.7% year on year, of which selling expenses, administrative expenses and financial expenses grew 7.7%, 2% and 16.5% year on year respectively.
　　(III) Profits realized. From January to June, state-owned enterprises achieved cumulative total profits of 1,221.11 billion yuan, up 8.9% year on year. (1) Central enterprises recorded 894.21 billion yuan, up 9.9% year on year. (2) Local state-owned enterprises recorded 326.9 billion yuan, up 6.2% year on year.
　　(IV) Taxes payable. From January to June, taxes payable by state-owned enterprises amounted to 1,893.49 billion yuan, up 6.3% year on year. (1) Central enterprises recorded 1,471.31 billion yuan, up 7.1% year on year. (2) Local state-owned enterprises recorded 422.18 billion yuan, up 3.8% year on year.
　　(V) Assets, liabilities and owners' equity. At the end of June, total assets of state-owned enterprises stood at 97,012.61 billion yuan, up 11.9% year on year; total liabilities stood at 63,250.27 billion yuan, up 12.4% year on year; total owners' equity stood at 33,762.35 billion yuan, up 11.1% year on year. (1) Total assets of central enterprises stood at 51,146.85 billion yuan, up 10.4% year on year; total liabilities stood at 33,559.85 billion yuan, up 10.3% year on year; owners' equity stood at 17,587 billion yuan, up 10.5% year on year. (2) Total assets of local state-owned enterprises stood at 45,865.76 billion yuan, up 13.7% year on year; total liabilities stood at 29,690.42 billion yuan, up 14.8% year on year; owners' equity stood at 16,175.34 billion yuan, up 11.7% year on year.
　　II. Profitability of Major Industries
　　From January to June, state-owned enterprises in industries such as transportation, automobiles and building materials recorded relatively large year-on-year increases in profits; state-owned enterprises in industries such as coal, chemicals and textiles recorded notable year-on-year declines in profits; state-owned enterprises in the nonferrous metals industry continued to incur losses.