Published: 20:01, May 29, 2024
Chinese SOEs maintain sound operation with growing revenue, profits
By Xinhua
This aerial photo taken on July 4, 2023 shows the construction site of the China Mobile Xiong'an smart city science and innovation center at an internet industrial park in the start-up area in Xiong'an New Area, north China's Hebei province. (PHOTO / XINHUA)

BEIJING — China's state-owned enterprises (SOEs) maintained steady operations in the first four months of the year, reporting increased total revenue and profits, according to official data released on Wednesday.

Data from the Ministry of Finance showed that during the period, the SOEs generated more than 26.19 trillion yuan (about $3.68 trillion) in operating revenue, up 3.2 percent from a year earlier.

The country's State Council has issued a disciplinary action regulation for those in managerial positions of SOEs to intensify oversight of SOE managers, and the regulation will take effect on Sept 1 this year

The combined profits of SOEs increased 3.8 percent year-on-year to more than 1.38 trillion yuan, the data showed.

READ MORE: Zhang calls for SOE reform, support for 'little giant' firms

The SOEs saw their debt-to-asset ratio reach 64.9 percent at the end of April, up 0.1 percentage points from the previous year, according to the ministry.

These figures, which exclude financial firms, were collected from SOEs in provincial-level regions and those administered by the central government.

China has rolled out measures to strengthen the supervision of SOEs and emphasized continuous efforts to deepen SOE reform lately.

READ MORE: China central SOE net profits up 35.71% in three years

The country's State Council has issued a disciplinary action regulation for those in managerial positions of SOEs to intensify oversight of SOE managers, and the regulation will take effect on Sept 1 this year.