Central SOEs record growth in revenue, profit

China's centrally administered State-owned enterprises saw steady growth in both revenue and profit in 2022, according to the country's top State-owned assets regulator.

The total operating revenue of central SOEs climbed 8.3 percent on a yearly basis to 39.4 trillion yuan ($5.82 trillion) in 2022, while their net profit expanded 5 percent year-on-year to 1.9 trillion yuan, said the State-owned Assets Supervision and Administration Commission of the State Council.

Seven groups among China's 98 central SOEs registered over 100 billion yuan of profit last year.

The commission said China's three-year (2020-22) action plan for the reform of SOEs successfully concluded with high-quality achievements in 2022.