In the first half of this year, Beijing's municipally administered, state-owned enterprises (SOEs) experienced growth in both revenue and profit, and the output of the city's SOEs above the designated size recorded double-digit growth.

Data from the municipal SOE administrator shows that the operating revenue of Beijing SOEs reached 1.05 trillion yuan ($14.56 million), marking a 4.9% year-on-year increase, while their net profit amounted to 65.12 billion yuan, up 9.3% year on year.

Furthermore, industries previously impacted by COVID-19, such as commerce, trade, and tourism, have managed to generate profits, and revenues from sports and entertainment increased by over 80%.

These SOEs have provided robust support to Beijing's economy through key projects. In the first half of the year, Beijing SOEs invested 57.34 billion yuan in vital projects within the city, achieving 50.7% of the planned goals, which reflected an increase of 9.8 percentage points from the same period last year.

According to the annual investment plans of Beijing's SOEs, their number of fixed asset investment projects and total investment are both set to reach record highs.

Meanwhile, the city aims to offer more incentives to encourage SOEs to invest in innovative development, while companies are intensifying their efforts toward green transformation and market-oriented reforms.

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