The managements of various state-owned enterprises have been blaming a sluggish global economy and falling prices for their multibillion-yuan losses and profit nosedives in the past two weeks.
A look into the financial statements of various non-financial companies in the past 13 years, however, shows that the problem is elsewhere.
via Business feed http://www.scmp.com/business/article/1202816/sluggishness-and-high-prices-not-only-reasons-soe-losses
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