Beijing's State-owned enterprises' assets exceeds 5t yuan

A bird's-eye view of the central business district in Beijing. [Photo/VCG]

BEIJING - The total assets of Beijing's State-owned companies has exceeded 5 trillion yuan ($723 billion) by the end of 2018, local authorities said Wednesday.

It indicated that the capital city has accomplished the target of 4.7 trillion yuan of total assets of State-owned enterprises by 2020 ahead of schedule, according to the State-owned Assets Supervision and Administration Commission of People's Government of Beijing Municipality.

From January to April 2019, Beijing's State-owned enterprises generated nearly 496 billion yuan in revenue, up 11.3 percent year-on-year, with a profit of 30 billion yuan, increasing 23.8 percent year-on-year, according to the commission.

Operation revenue of State-owned enterprises of the city reached 1.6 trillion yuan last year, with a profit of 95 billion yuan, the commission said.