Photo: An engineer installs a smart sewing machine in a workshop in the Lintong Production Base of the China Typical Industries Group Co., Ltd., a state-owned enterprise, in Xi'an, northwest China's Shaanxi Province, Nov. 18, 2020.
BEIJING, March 29 (Xinhua) -- Profits and revenues of China's state-owned enterprises (SOEs) soared significantly in the first two months of this year, the Xinhua-run Shanghai Securities News reported on Monday.
The country's SOEs saw their aggregate profits hike 150 percent year on year to 548.94 billion yuan in the first two months of 2021, of which profit of central SOEs amounted to 407.7 billion yuan, up 96.9 percent year on year, data showed from the Ministry of Finance.
According to the Ministry, SOEs raked in overall 10.1929 trillion yuan in combined revenues during the period, surging 33.7 percent year on year.
At the end of February, the debt-to-asset of SOEs came in at 64.3 percent, keeping flat with the same period of last year, said the ministry.
In 2020, SOEs saw their total operating revenue rise 2.1 percent year on year to 63.29 trillion yuan, 1.3 percentage points higher than the level recorded in the first 11 months. (Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)
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