Profits of Chinese SOEs rise 7% in Q1
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E-mail Xinhua, April 27, 2022
The combined profits of China's state-owned enterprises (SOEs) rose 7% year on year to nearly 1.02 trillion yuan (about $155.5 billion) in the first quarter of the year, official data showed on Tuesday.
The SOEs raked in 18.6 trillion yuan in operating revenue in the first three months, 12.9% higher than in the same period last year, according to data from the Ministry of Finance.
The total profits of China's centrally administrated SOEs rose 11.7% from a year earlier to 778.46 billion yuan, and their operating revenue topped 10.75 trillion yuan, up 14.1% year on year.
In the January-March period, the combined profits of China's local SOEs dropped 5.9 % year on year, the data showed.
By the end of the first quarter, the debt-to-asset ratio of the country's SOEs came in at 64.3%, 0.1 percentage points higher than the previous year.
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