Revenues of Chinese SOEs up 3.9 pct in January-September period

Updated: Nov 2, 2023 Xinhua Print
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BEIJING -- China's state-owned enterprises (SOEs) and state holding enterprises saw their revenues and profits grow in the first nine months of 2023, the Ministry of Finance said on Friday.

Revenues totaled 61.97 trillion yuan (about 8.63 trillion U.S. dollars), up 3.9 percent year on year, and profits climbed to 3.48 trillion yuan, an increase of 4.3 percent year on year.

Taxes and fees payable by the companies totaled 4.38 trillion yuan during the period, down 2.3 percent year on year.

The asset-liability ratio of the SOEs was 64.8 percent at the end of September, the ministry said.

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