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Economy

Main economic indicators of SOEs rebounds in March

April 23, 2020


Abstract : China's state-owned enterprises (SOEs) reported a significant pickup in major performance indicators in March, with economic operation showing a rehabilitative growth, though their major performance indicators declined year on year in the first quarter, showed statistics from Ministry of Finance.

BEIJING, April 23(Xinhua) -- China's state-owned enterprises (SOEs) reported a significant pickup in major performance indicators in March, with economic operation showing a rehabilitative growth, though their major performance indicators declined year on year in the first quarter, showed statistics from Ministry of Finance.

From January to March, total operating income of state-owned enterprises was 12,338.86 billion yuan, decreasing 11.7 percent. Specifically, total operating income of China 's SOEs in March increased by 48.4 percent from the previous month, and returned to 88 percent of level in the same period of last year.

Their total net profit was 329.16 billion yuan in the first quarter, decreasing 59.7 percent year on year, but it increased by 4.2 times month-on-month in March.

 The asset-liability ratio of SOEs was 64.5 percent at the end of March, up 0.2 percentage points.

China's SOEs, especially the central SOEs have played a key role in work and production resumption after the outbreak of COVID-19. As SOEs actively pushed forward construction and resumption of major projects, profits of industry, building industry, wholesales and retail business in March soared month on month.

(Edited by Bao nuomin with Xinhua Silk Road, baonuomin@xinhua.org)

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