Economic performance of State-owned and State-holding enterprises in 2017

From January to December of 2017, the State-owned and State-holding enterprises (hereinafter referred to as State-owned enterprises, or SOEs) had good economic performance and made steady progress. The business income and profit of SOEs continued to grow at a rapid pace, and the increase in profit was 9 percent higher than that of business income.

Main economic performance indicators of SOEs

I. Total operating income

From January to December, the total operating income of SOEs reached 52.20 trillion yuan ($7.91 trillion), a year-on-year increase of 13.6 percent.

(1) The central SOEs had total operating income of 30.82 trillion yuan, a year-on-year increase of 12.5 percent.

(2) The total operating income of local SOEs reached 21.38 trillion yuan, a year-on-year increase of 15.2 percent.

II. Total operating costs

From January to December, the total operating costs of SOEs reached 50.70 trillion yuan, an increase of 12.6 percent year-on-year. The sales expenses, administrative expenses, and financial expenses increased by 9.5 percent, 8.5 percent, and 8 percent year-on-year respectively.

(1) The total operating costs of central SOEs reached 29.70 trillion yuan, an increase of 12 percent year-on-year. The sales expenses, administrative expenses, and financial expenses increased by 7.6 percent, 7.9 percent, and 4.6 percent year-on-year respectively.

(2) The total operating costs of local SOEs reached 21 trillion yuan, an increase of 13.5 percent year-on-year. The sales expenses, administrative expenses, and financial expenses increased by 12.5 percent, 9.3 percent, and 11.2 percent year-on-year respectively.

III. The profits

From January to December, the total profits of SOEs reached 2.90 trillion yuan, a year-on-year increase of 23.5 percent.

(1) The total profits of central SOEs amounted to 1.78 trillion yuan, a year-on-year increase of 16 percent.

(2) The total profits of local SOEs amounted to 1.12 trillion yuan, a year-on-year increase of 37.6 percent.

IV. The taxes payable

From January to December, the taxes payable of SOEs reached 4.23 trillion yuan, an increase of 9.5 percent year-on-year.

(1) The taxes payable of central SOEs reached 3.08 trillion yuan, a year-on-year increase of 5 percent.

(2) The taxes payable of local SOEs amounted to 1.15 trillion yuan, a year-on-year increase of 23.6 percent.

V. Assets, liabilities and owner's equity

At the end of December, the total assets of SOEs reached 151.71 trillion yuan, an increase of 10 percent year-on-year. The total liabilities reached 99.72 trillion yuan, a year-on-year increase of 9.5 percent. The total owner's equity reached around 52 trillion yuan, an increase of 11 percent year-on-year.

(1) The total assets of the central SOEs reached 75.13 trillion yuan, an increase of 8.2 percent year-on-year. The total liabilities reached 51.12 trillion yuan, a year-on-year increase of 7.3 percent. The total owner's equity reached 24.01 trillion yuan, an increase of 10.2 percent year-on-year.

(2) The total assets of local SOEs reached 76.58 trillion yuan, an increase of 11.8 percent year-on-year. The total liabilities reached 48.59 trillion yuan, a year-on-year increase of 11.9 percent. The total owner's equity reached 27.99 trillion yuan, an increase of 11.7 percent year-on-year.

Profitability of major industries

From January to December, steel and non-ferrous metals and other industries that experienced a profit loss in the previous year continued to maintain profit. The profits of coal, transportation, petroleum, and petrochemical industries increased significantly year-on-year, and the profits of electric power and other industries recorded a significant year-on-year decrease.

Note: The State-owned and State-holding enterprises in this report include central SOEs, enterprises under central government departments and units, as well as local State-owned and State-holding enterprises in 36 provinces, autonomous regions, municipalities directly under the Central Government, and cities with independent planning status. It does not include State-owned financial enterprises.