Profits of China's central SOEs rise 65.6% in Jan.-Sept.
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E-mail Xinhua, October 20, 2021
China's centrally-administered state-owned enterprises (SOEs) saw a robust profit growth in the first nine months of this year, official data showed Wednesday.
Net profits of the companies totaled over 1.5 trillion yuan (about 234.1 billion U.S. dollars) in the Jan.-Sept. period, up 65.6 percent from a year ago, according to the State-owned Assets Supervision and Administration Commission of the State Council.
The average growth for the period in 2020 and 2021 was 19.7 percent, the commission said.
During the period, the central SOEs raked in 26.2 trillion yuan in combined revenues, an increase of 23.9 percent year on year.
Wednesday's data also showed that the overall solvency of central SOEs remained stable in the first nine months. By the end of September, the average debt-to-asset ratio of central SOEs stood at 64.8 percent, down 0.6 percentage points from a year earlier.
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