BEIJING, March 2 -- Profits of China's state-owned enterprises (SOEs) under direct central control dropped 30 percent from 2007.
According to the State-owned Assets Supervision and Administration Commission or SASAC profits reached 665.29 billion yuan or about 97.31 billion U.S. dollars.
The reasons for the decline include domestic natural disasters, the global downturn and "policy-induced" losses.
SASAC overseas 141 centrally-administered State owned enterprises.
Xinhua News Agency correspondents reporting from Beijing.