Global EditionASIA 中文双语Français
Home / Business / Companies

China State firms' Jan-April profits fall 63%

Xinhua | Updated: 2020-05-26 17:37
Share - WeChat
Sinopec employees inspect gas pipes in Puyang, Henan province. [Photo by Tong Jiang/For China Daily]

BEIJING - Profits at China's State-owned enterprises (SOEs) fell 63 percent year-on-year in the first four months of 2020, official data showed.

This came after a decline of 59.7 percent in the first quarter of the year, according to data from the Ministry of Finance.

Total profits at the SOEs stood at 412.01 billion yuan ($57.79 billion) during the January-April period.

SOEs have generated combined revenue of 17.03 trillion yuan during the period, down 9.2 percent from a year earlier, and its operating costs saw a 6.2-percent fall to 16.92 trillion yuan, the ministry said.

SOEs' debt-to-asset ratio edged up to 64.6 percent at the end of April, compared with 64.5 percent at the end of March.

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