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China's SOEs see steady revenue growth

Updated: May 12, 2023 Xinhua Print
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BEIJING -- China's state-owned enterprises (SOEs) saw increased revenues in the first two months of this year, official data shows.

The SOEs raked in 12.24 trillion yuan (about 1.78 trillion U.S. dollars) in operating revenues in the January-February period, up 5 percent from the same period last year, according to data from the Ministry of Finance.

The combined profits of SOEs went up 9.9 percent year on year to 650.56 billion yuan in the first two months.

By the end of February, the average debt-to-asset ratio of SOEs stood at 64.6 percent, up 0.3 percentage points from the previous year.

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