China’s state-owned enterprises (SOE’s) have seen robust growth in profits since the start of 2022 led by central SOE’s, according to the latest data released by the Ministry of Finance (MOFCOM).
The total operating revenues of China’s SOE’s were 11.62084 trillion yuan for the period from January to February, for year-on-year (YoY) growth of 14.0%.
Revenues of central SOE’s were 6.96678 trillion yuan, for YoY growth of 16.0%, while for local SOE’s they were 4.65406 trillion yuan, for YoY growth of 11.0%.
The total profits of China’s SOE’s were 611.86 billion yuan for the period from January to February, for YoY growth of 16.8%.
Central SOE’s saw profits of 485.25 billion yuan, for YoY growth of 20.9%, while profits of local SOE’s were 126.61 billion yuan, for YoY growth of 3.3%.
As of the end of February China’s SOE debt-asset ratio was 64.0%, on par with the same period last year. For central SOE’s the debt-asset ratio was 66.4%, on par with the same period last year, while for local SOE’s it was 62.7%, for a rise of 0.1 percentage points.