From January to April, both profit and tax return at China's state-owned enterprises (SOEs) declined, though the declining speed is slowing down, according to the results released Wednesday by the Ministry of Finance.

Total revenue at SOEs was 5.97892 trillion yuan from January to April, down 7.3% from last year.  April revenue dropped 5.1% from March. 

Total profit was 323.64 billion yuan from January to April, 32.3% lower than the same period of last year.  April profit increased 0.5% from March.

Total tax was 554.07 billion yuan from January to April, 4.4% less year on year.  April tax return was 2.3% higher than March.

January - April total cost was 5.6862 trillion yuan, down 5.4% from last year, among which operating cost dropped 7.1%, administrative cost dropped 2.4%, and financing cost dropped 15.9%. Total inventory increased 13.1% compared with last year.

Overall, the January to April year-on-year reduction in terms of revenue, profit, tax, and cost were all lower than the January to March year-on-year reduction.  It seems the deterioration was slowing down.