The combined profits of China’s State-Owned Enterprises (SOEs) rose 47.6 per cent year on year to over 3.8 trillion yuan (about 594 billion U.S. dollars) in the first 10 months of 2021, official data showed on Thursday.
The Ministry of Finance, said during the period, the SOEs saw their operating revenue up 22.1 per cent year on year to around 60.4 trillion yuan.
- U.S.-China climate pledge adds psychological lift
- Nigeria is losing N250 billion a month to fuel subsidy – El-Rufai
The centrally-administered SOEs saw their profits increased 44 per cent year on year to 2.53 trillion yuan in the first 10 months.
The revenue of centrally-administered SOEs rose 21.3 per cent year on year to 33.85 trillion yuan.
At the end of October, the debt-to-asset ratio of the country’s SOEs came in at 64.3 per cent, flat with the level seen in the same period in 2020, data showed. (Xinhua/NAN).
