The increase is 3.1% year-on-year; according to the Ministry of Finance, companies register stable expansion in the first 5 months

China’s state-owned enterprises recorded steady expansion in the first 5 months of the year, with revenues and profits increasing, official data released on Monday (June 24, 2024) showed.

These companies had 32.85 trillion yuan ($4.61 trillion) in operating revenue in the January-May period, up 3.1 percent year on year, according to the Ministry of Finance.

Profits of these companies totaled 1.71 trillion yuan from January to May, up 2.3 percent year on year.

The debt-to-asset ratio of state-owned companies reached 64.9% at the end of May, the data showed.

These numbers, which exclude financial companies, were collected from state-owned companies in provincial-level regions and those administered by the central government.

With information from Xinhua.


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