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China's SOEs register steady revenue growth
Updated: Jul 3, 2023
Xinhua
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BEIJING -- China's state-owned enterprises (SOEs) saw increased revenue in the first five months of this year, official data shows.
The SOEs raked in 32.91 trillion yuan (about 4.55 trillion U.S. dollars) in operating revenue in the January-May period, up 6.2 percent from the same period last year, according to data from the Ministry of Finance.
The combined profits of SOEs went up 10.9 percent year on year to 1.78 trillion yuan in the first five months.
By the end of May, the average debt-to-asset ratio of SOEs stood at 64.8 percent, up 0.3 percentage points from the previous year.
