Chinese SOEs report solid profit growth in Jan-April | govt.chinadaily.com.cn

Chinese SOEs report solid profit growth in Jan-April

Updated: May 28, 2019 Xinhua Print
Sinopec employees inspect gas pipes in Puyang, Henan province. [Photo by Tong Jiang/For China Daily]

BEIJING - Profits of Chinese State-owned enterprises (SOEs) grew steadily in the first four months of 2019, official data showed on may 27.

The combined profits of China's SOEs rose 12.6 percent year-on-year to 1.12 trillion yuan ($162.5 billion) for the January-April period, the Ministry of Finance said on its website.

Total revenues reached 18.9 trillion yuan during the period, up 8.3 percent from a year earlier.

By the end of April, total SOE assets had reached 191.78 trillion yuan, up 8.9 percent year-on-year, while their liabilities went up 8.5 percent to 123.37 trillion yuan.

The debt-to-asset ratio of the SOEs went down 0.2 percentage points to 64.3 percent, according to the ministry.

China has been advancing SOE reforms, including mixed-ownership reform and corporate reform, to inject vitality to a large number of previously underperforming enterprises.

Copyright©2020 China Daily. All rights reserved.

京ICP备13028878号-6

京公网安备 11010502032503号