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Chinese SOEs report rising profits in Q1

Abstract : The combined profits of China's state-owned enterprises (SOEs) reached 961.45 billion yuan (about 148.1 billion U.S. dollars) in the first quarter of this year, up 190 percent year on year, official data showed Tuesday.

BEIJING, April 27 (Xinhua) — The combined profits of China’s
state-owned enterprises (SOEs) reached 961.45 billion yuan (about 148.1
billion U.S. dollars) in the first quarter of this year, up 190 percent
year on year, official data showed Tuesday.

During the period, the profits of centrally administered SOEs rose
130 percent year on year to 696.57 billion yuan, according to the
Ministry of Finance.

The SOEs saw their total revenue surge 33.3 percent year on year to over 16.37 trillion yuan.

The revenue of centrally administered SOEs went up 27.3 percent year on year to over 9.39 trillion yuan.

At the end of March, the debt-to-asset ratio of the country’s SOEs
came in at 64.3 percent, flat with the level seen during the same period
last year, the data showed. Enditem

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Source: Chinese SOEs report rising profits in Q1

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