China's SOEs see revenue up 4.3% in first 7 months
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E-mail Xinhua, August 29, 2023
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China's state-owned enterprises (SOEs) and state holding enterprises saw their revenues and profits grow in the first seven months of 2023, the Ministry of Finance said Tuesday.
Revenues hit 47.72 trillion yuan (about 6.64 trillion U.S. dollars), up 4.3% year on year, while profits reached 2.73 trillion yuan, an increase of 3.9% from a year earlier.
The companies paid 3.44 trillion yuan in taxes and fees during the period, down 2.9% year on year.
The asset-liability ratio of SOEs was 64.7% at the end of July, the ministry said.
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