The latest data from the Ministry of Commerce points to a sharp rise in the profitability and repayment capability of China’s state-owned enterprises (SOE’s) for the period from January to April.
During the January-April period China’s SOE’s saw total revenues of 17.50025 trillion yuan, for a year-on-year rise of 9.7%.
Total SOE profits were 1.00549 trillion yuan, for a YoY rise of 18.4%, with central SOE’s posting profits of 692.94 billion yuan, for a YoY rise of 19.1%, and local SOE’s posting profits of 312.55 billion yuan, for YoY growth of 16.9%.
As of the end of April SOE total assets were worth 166.81172 trillion yuan, for YoY growth of 9.9%, while its total debts were worth 108.48429 trillion yuan, for YoY growth of 9.2%.
Total owner’s equity was 58.32743 trillion yuan, for YoY growth of 11.1%.
For the period from January-April, industries including steel, oil and coal saw sizeable YoY increases in their profits that exceeded their revenue increases, while the non-ferrous metals sector saw a large decline in profitability.