BEIJING, July 23(ABC): China’s centrally administered state-owned enterprises (SOEs) have seen steady growth in revenue and profit in the first half of 2022 despite downward pressure, the country’s top state-owned assets regulator said.
The country’s central SOEs raked in 19.2 trillion yuan (about 2.84 trillion U.S. dollars) in combined revenue in the first six months, a 12-percent expansion from a year ago, Peng Huagang, spokesperson for the State-owned Assets Supervision and Administration Commission of the State Council, told a press conference.
The net profits of central SOEs reached 1.1 trillion yuan, up 6.1 percent from a year ago. The production efficiency of central SOEs kept improving.
The operating profit margin of these companies stood at 7.4 percent, remaining at a comparatively high level, according to Peng. Friday’s data also showed that the overall solvency of central SOEs remained stable. At the end of June, central SOEs’ average ratio of liabilities to assets stood at 65 percent, indicating that debt risks are controllable, according to Peng.