Chinese SOEs report solid profit growth in Jan-April

29 May, 2019 12:00 AM printer

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

The combined profits of China's SOEs rose 12.6 percent year on year to 1.12 trillion yuan (about 162.5 billion U.S. dollars) for the January-April period, the Ministry of Finance (MOF) said on its website, reports Xinhua.

Total revenues reached 18.9 trillion yuan during the period, up 8.3 percent from a year earlier.

By the end of April, total SOE assets had reached 191.78 trillion yuan, up 8.9 percent year on year, while their liabilities went up 8.5 percent to 123.37 trillion yuan.