Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China's SOEs report 11.7-pct fall in Q1 revenues

April 22, 2020


Abstract : Revenues of China's state-owned enterprises (SOEs) fell 11.7 percent year on year to 12.3 trillion yuan (about 1.74 trillion U.S. dollars) in the first quarter (Q1) of 2020, official data showed Tuesday.

BEIJING, April 21 (Xinhua) -- Revenues of China's state-owned enterprises (SOEs) fell 11.7 percent year on year to 12.3 trillion yuan (about 1.74 trillion U.S. dollars) in the first quarter (Q1) of 2020, official data showed Tuesday.

Their combined profits plunged by 59.7 percent year on year to 329.2 billion yuan for the January-March period, the Ministry of Finance said on its website.

In March, revenues of the SOEs increased by 48.4 percent from the previous month and neared 88 percent of the level recorded in the same period last year, the data showed.

Profits of SOEs in the industry, construction and retail sales sectors reported marked growth last month from February as they have steadily advanced the work resumption of major projects.

By the end of March, the debt-to-asset ratio of the SOEs went up 0.2 percentage points to 64.5 percent, according to the ministry.

Scan the QR code and push it to your mobile phone

Keyword: SOEs revenue

Reading:

China Mobile profits inch down 0.8 pct in Q1

Ping An Bank posts steady profit growth in Q1

Hebi eco-tech dev. zone recruits overseas investment online

Courier giant SF Holding reports strong revenue growth

China's postal sector sees stable Q1 growth

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial