BEIJING, Jan. 19 (Xinhua) -- China's centrally-administered state-owned enterprises (SOEs) saw solid growth in net profits in 2021 despite lingering impacts from the COVID-19 pandemic, showed official data Wednesday.
The central SOEs raked in 36.3 trillion yuan in combined revenues in 2021, an increase of 19.5 percent year on year, SASAC spokesperson Peng Huagang said at the press conference.
Wednesday's data also showed that central SOEs spent more on research and development (R&D) in 2021 to boost innovation-driven development, the SASAC said. Their R&D input expanded 16.1 percent year on year to 904.59 billion yuan.
The overall solvency of central SOEs remained stable. At the end of December, the average debt-to-asset ratio of China's central SOEs came in at 64.9 percent.