Briefly

BOC records stable growth in first half

Bank of China posted robust growth across several key areas, particularly in loan issuance and asset quality, its financial results for the first half of 2024 showed. BOC increased domestic yuan loans by 1.21 trillion yuan ($169.7 billion) during the period, contributing to the overall growth and optimization of its loan portfolio. This achievement was accompanied by the bank's efforts to nurture new quality productivity forces through various initiatives, including enhanced financial services for technology companies and a strong emphasis on green finance.

Huawei reports 34% rise in sales revenue

Technology giant Huawei's sales revenue increased by 34.3 percent year-on-year to 417.5 billion yuan ($58.6 billion) in the first half of the year, the company said. During the period, the company also recorded a net profit margin of 13.2 percent. The company's overall business performance is in line with its expectations. In the first half of 2023, its sales revenue was 310.9 billion yuan, a year-on-year increase of 3.1 percent, with a net profit margin of some 15 percent.

Xinhua - China Daily