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China's SOEs post steady profit growth in first 11 months

2019/12/24 14:07:12   source:Xinhua

Profits of Chinese state-owned enterprises (SOEs) grew steadily in the first 11 months of 2019, official data showed.

The combined profits of China's SOEs rose 5.3 percent year on year to 3.2 trillion yuan (about 456 billion U.S. dollars) in the period, the Ministry of Finance said on its website.

The pace edged down from the 5.4-percent increase in the first 10 months.

Centrally-administered SOEs generated a combined profit of 2.09 trillion yuan, up 7.7 percent year on year.

Total revenues of the SOEs reached 55.75 trillion yuan during the period, up 6.4 percent from a year earlier.

The ratio of their liabilities to assets stood at 64.4 percent by the end of November, unchanged from the same period last year, according to the ministry.

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