CHINA Profits of China's central SOEs rise 2.1% in 2020

CHINA

Profits of China's central SOEs rise 2.1% in 2020

People's Daily app

10:31, January 19, 2021

Profits of China's central State-owned enterprises (SOEs) rose 2.1 percent year-on-year to 1.4 trillion yuan ($215.77 billion) in 2020, with around 80 percent of central SOEs reporting rising profits, said the State-owned Assets Supervision and Administration Commission (SASAC) on Tuesday.

Workers from China Construction Third Engineering Bureau Co Ltd conduct workplace safety training at a construction site in Urumqi, Northwest China's Xinjiang Uygur autonomous region, on June 23, 2020. (Photo: Xinhua)

The country's 97 central SOEs raked in 30.3 trillion yuan in combined revenues last year, down 2.2 percent year on year, SASAC spokesperson Peng Huagang told a press conference.

In December alone, central SOEs saw their revenues rise for the fifth straight month to 3.7 trillion yuan, an 11.7-percent expansion from a year ago.

The fixed-asset investment of central SOEs, excluding property investment, rose 1.9 percent year on year to 2.8 trillion yuan in 2020 despite the adverse impact of COVID-19, according to the SASAC.

(With input from Xinhua)

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