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Chinese SOEs see increasing revenue, profits in Jan-May

Xinhua | Updated: 2024-06-24 17:05
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Employees from a subsidiary of China Shipbuilding Industry Corp install clean-energy equipment in Nantong, Jiangsu province. [Photo/Xinhua]

BEIJING -- China's State-owned enterprises registered steady expansion in the first five months of the year, with both revenue and profits growing, official data showed on Monday.

These companies generated 32.85 trillion yuan ($4.61 trillion) in operating revenue in the January-May period, up 3.1 percent year-on-year, according to the Ministry of Finance.

Profits of these companies totaled 1.71 trillion yuan from January to May, with a year-on-year increase of 2.3 percent.

Their debt-to-asset ratio reached 64.9 percent at the end of May, the data showed.

These figures, which exclude financial firms, were collected from SOEs in provincial-level regions and those administered by the central government.

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