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Chinese SOEs see steady revenue, profit growth in first 10 months

Xinhua, December 06, 2023 Adjust font size:

The revenue and profits of China's state-owned enterprises (SOEs) and state holding enterprises registered steady expansion in the first 10 months of this year, official data showed.

The combined operating revenue of these enterprises stood at 68.97 trillion yuan (about 9.71 trillion U.S. dollars) during the period, up 3.9 percent year on year, according to the Ministry of Finance.

Their total profits rose 7.1 percent from the same period last year to 3.83 trillion yuan.

The data also revealed that the asset-liability ratio of these firms stood at 64.8 percent at the end of October, up 0.3 percentage points.