Global EditionASIA 中文双语Français
Business
Home / Business / Companies

Chinese SOEs report solid profit growth in Jan-April

Xinhua | Updated: 2019-05-28 11:23
Share
Share - WeChat
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 Monday.

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.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE