China's SOEs register steady revenue growth

Updated: Jul 3, 2023 Xinhua Print
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A staff member checks on a bullet train at the Changsha West bullet train maintenance base in Changsha, central China's Hunan Province, Jan. 16, 2023. [Photo/Xinhua]

BEIJING -- China's state-owned enterprises (SOEs) saw increased revenue in the first five months of this year, official data shows.

The SOEs raked in 32.91 trillion yuan (about 4.55 trillion U.S. dollars) in operating revenue in the January-May period, up 6.2 percent from the same period last year, according to data from the Ministry of Finance.

The combined profits of SOEs went up 10.9 percent year on year to 1.78 trillion yuan in the first five months.

By the end of May, the average debt-to-asset ratio of SOEs stood at 64.8 percent, up 0.3 percentage points from the previous year.

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