BUSINESS China's SOEs post steady profit growth in first 10 months

BUSINESS

China's SOEs post steady profit growth in first 10 months

Xinhua

18:04, December 01, 2019

BEIJING, Dec. 1 (Xinhua) - Profits of Chinese state-owned enterprises (SOEs) grew steadily in the first 10 months of 2019, official data showed.

VCG11487187518.jpg

(File photo: VCG)

The combined profits of China's SOEs rose 5.4 percent year on year to 2.94 trillion yuan (about 418 billion US dollars) for the January-October period, the Ministry of Finance said on its website.

The pace edged down from the 6.6-percent increase in the first nine months.

The centrally-administered SOEs generated a combined profit of 1.94 trillion yuan, up 7.5 percent year on year.

Total revenues of the SOEs reached 50.13 trillion yuan during the period, up 6.5 percent from a year earlier.

The debt-to-asset ratio of the SOEs stood at 64.3 percent by the end of October, unchanged from the same period last year, according to the ministry. 

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue