Published: 17:41, June 24, 2024
Chinese SOEs see increasing revenue, profits in Jan-May
By Xinhua
A worker welds steel at a construction site of an inter-city railway station and an international trade center in Xiong'an New Area, North China's Hebei province, Feb 6, 2024. (PHOTO / XINHUA)

BEIJING - China's state-owned enterprises (SOEs) registered steady expansion in the first five months of the year, with both revenue and profits growing, official data showed on Monday.

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These companies generated 32.85 trillion yuan (about $4.61 trillion) in operating revenue in the January-May period, up 3.1 percent year on year, according to the Ministry of Finance.

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Profits of these companies totaled 1.71 trillion yuan from January to May, with a year-on-year increase of 2.3 percent.

Their debt-to-asset ratio reached 64.9 percent at the end of May, the data showed.

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These figures, which exclude financial firms, were collected from SOEs in provincial-level regions and those administered by the central government.