Revenues of Chinese SOEs up 1.2 pct in first nine months: data

BEIJING, Oct. 28 (Xinhua) — China’s state-owned enterprises (SOEs), excluding state-owned financial enterprises, reported a 1.2 percent year-on-year increase in revenues from January to September of this year, according to data released by the Ministry of Finance on Monday.
Their combined revenues reached nearly 61.06 trillion yuan (about 8.56 trillion U.S. dollars) during the period, while combined profits reached about 3.25 trillion yuan, down 2.3 percent year on year, the data showed.
In the first nine months of the year, the Chinese SOEs’ tax and fee payables grew 0.1 percent year on year to over 4.41 trillion yuan, the data showed.
Meanwhile, the debt-to-asset ratio of Chinese SOEs stood at 64.9 percent at the end of September, according to the data.
These figures were collected from SOEs in both provincial-level regions and those administered by the central government. ■