SOEs' profits reveal reforms are effective

503 enterprises' 2017 revenues up 17% to $2.34 trillion; income up 54% to $94 b

BEIJING - State-owned enterprises or SOEs, the backbone of the Chinese economy, registered a strong financial performance last year and made headway in China's reforms, especially those relating to the supply side.

So far, 503 out of 984 non-financial SOEs listed in China have filed their 2017 annual reports with the Shanghai and Shenzhen stock exchanges, according to Wind Info, a financial information service provider.