Profits of China's SOEs continue to rise
3 years, 11 months ago

Profits of China's SOEs continue to rise

China Daily  

A CNOOC employee uses a wireless communication device on an offshore drilling platform in the South China Sea. The SOEs saw their aggregate net profits after taxes go up by 47.2 percent year-on-year last month, while the operating revenue climbed 6 percent, according to data from the Ministry of Finance. In the first 11 months, the SOEs raked in 55.61 trillion yuan in revenues, up 0.8 percent year-on-year, said the ministry. Their net profits after taxes totaled about 2.21 trillion yuan, down 7.1 percent year-on-year during the 11-month period, the ministry said. SOEs' debt-to-asset ratio came in at 64.5 percent at the end of November, up by 0.2 percentage points compared with the same period last year.

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History of this topic

China's general public budget revenue sees accelerated growth in November
1 week ago

China's general public budget revenue sees accelerated growth in November

China Daily  

By Wang Keju | chinadaily.com.cn | Updated: 2024-12-17 19:53 China's general public budget revenue, which is the sum-up of tax revenue and nontax revenue, in November reached about 1.4 trillion yuan, representing an 11 percent year-on-year increase, according to a calculation by Huatai Securities based on the data from the Ministry of Finance. The country's tax revenue grew by 5.3 …

Fiscal revenue growth seen as sign of economic recovery gaining traction
4 weeks, 1 day ago

Fiscal revenue growth seen as sign of economic recovery gaining traction

China Daily  

By WANG KEJU | CHINA DAILY | Updated: 2024-11-25 07:10 A view of the Huangpu River in Shanghai. China's tax revenue growth returned to positive territory in October for the first time this year, suggesting that the country's economic activity is picking up pace and gaining stronger momentum, analysts said. According to the latest data released by the Ministry of …

Fiscal revenue growth seen as sign of economic recovery gaining traction
4 weeks, 1 day ago

Fiscal revenue growth seen as sign of economic recovery gaining traction

China Daily  

A view of the Huangpu River in Shanghai. China's tax revenue growth returned to positive territory in October for the first time this year, suggesting that the country's economic activity is picking up pace and gaining stronger momentum, analysts said. According to the latest data released by the Ministry of Finance, China's general public budget revenue, which is the sum …

SOEs pumping large sums into R&D
1 month, 1 week ago

SOEs pumping large sums into R&D

China Daily  

China's centrally-administered State-owned enterprises have played a leading role in developing new quality productive forces by investing more than 1 trillion yuan annually in research and development over the past two years, and major technological achievements have continued to emerge, according to a new report. Tan added that SOEs should strengthen cooperation in industrial and supply chains, boost efforts to …

SOEs pumping large sums into R&D
1 month, 1 week ago

SOEs pumping large sums into R&D

China Daily  

China's centrally-administered State-owned enterprises have played a leading role in developing new quality productive forces by investing more than 1 trillion yuan annually in research and development over the past two years, and major technological achievements have continued to emerge, according to a new report. Tan added that SOEs should strengthen cooperation in industrial and supply chains, boost efforts to …

SOEs pumping large sums into R&D
1 month, 1 week ago

SOEs pumping large sums into R&D

China Daily  

An employee from the second drilling unit of CNPC Greatwall Drilling Co works on a drilling site in the Gulong shale oil formation in Daqing, Heilongjiang province, in late September. China's centrally-administered State-owned enterprises have played a leading role in developing new quality productive forces by investing more than 1 trillion yuan annually in research and development over the past …

Seres's Jan-Sept revenue up 539%
1 month, 3 weeks ago

Seres's Jan-Sept revenue up 539%

China Daily  

The booth of AITO, which is owned by Seres, attracts visitors at the Beijing auto show in April 2024. Chinese NEV maker Seres saw its revenue from January to September this year hit 106.63 billion yuan, up 539.24 percent from same period last year, according to its third-quarter financial results released on Wednesday. The company saw its net profit attributable …

China's general public budget expenditure rises
3 months, 3 weeks ago

China's general public budget expenditure rises

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. China's general public budget expenditure expanded 2.5 percent year-on-year in the first seven months of 2024 and is poised to maintain a steady growth trend over the coming months, the Ministry of Finance said on Monday. According to the ministry, the country's general public budget expenditure amounted to …

China's fiscal revenue down 2.6% in Jan-July
3 months, 4 weeks ago

China's fiscal revenue down 2.6% in Jan-July

China Daily  

File photo shows a worker counts Chinese currency renminbi at a bank in Lianyungang, East China's Jiangsu province. BEIJING -- China's fiscal revenue dipped 2.6 percent year-on-year in the first seven months of this year, official data showed Monday. A breakdown of the data showed the country's tax revenue decreased 5.4 percent from one year earlier, while its non-tax revenue …

State-owned companies high on reform agenda
4 months, 4 weeks ago

State-owned companies high on reform agenda

China Daily  

An employee works on the production line of a State-owned textile company in Pingdingshan, Henan province. In response to increasing protectionism and global economic uncertainties, China has been allocating more resources to develop strategic emerging industries, with the goal of strengthening self-reliance in high-end technologies and fortifying the backbone of the national economy, said Xiao Shuguang, a professor specializing in …

Emerging industries key to SOEs
5 months, 1 week ago

Emerging industries key to SOEs

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA As China deepens reforms of its State-owned enterprises, centrally administered SOEs are set to allocate more resources to develop strategic emerging industries in order to support national efforts and enhance their competitiveness, market analysts and business executives said. Strategic emerging …

Emerging industries key to SOEs
5 months, 1 week ago

Emerging industries key to SOEs

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA As China deepens reforms of its State-owned enterprises, centrally administered SOEs are set to allocate more resources to develop strategic emerging industries in order to support national efforts and enhance their competitiveness, market analysts and business executives said. Strategic emerging …

SOEs likely to lift emerging industries
5 months, 3 weeks ago

SOEs likely to lift emerging industries

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA China's endeavors to expedite technological advancement and cultivate new quality productive forces will encourage its centrally administered State-owned enterprises to deploy more resources toward developing strategic emerging industries, said senior SOE executives. Central SOEs, including train manufacturer CRRC Corp, energy …

SOEs likely to lift emerging industries
5 months, 3 weeks ago

SOEs likely to lift emerging industries

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA China's endeavors to expedite technological advancement and cultivate new quality productive forces will encourage its centrally administered State-owned enterprises to deploy more resources toward developing strategic emerging industries, said senior SOE executives. Central SOEs, including train manufacturer CRRC Corp, energy …

China's software, IT service industry sees double-digit growth in revenue, profits
6 months, 3 weeks ago

China's software, IT service industry sees double-digit growth in revenue, profits

China Daily  

BEIJING - China's software and information technology service industry reported double-digit year-on-year growth in terms of both revenue and profits in the first four months of 2024, official data showed. Total profits of the sector jumped by 14.3 percent year-on-year to 431.4 billion yuan during this period, while combined revenue rose by 11.6 percent to 3.8 trillion yuan, according to …

【双语财讯】今年前4个月国有企业营收、利润同比双增长
6 months, 3 weeks ago

【双语财讯】今年前4个月国有企业营收、利润同比双增长

China Daily  

财政部29日公布的数据显示，今年1-4月，全国国有及国有控股企业营业总收入同比增长3.2%，利润总额同比增长3.8%。 在广西柳州市上汽通用五菱精益智造工厂拍摄的等待下线的整车（5月9日摄）。图片来源：新华社 China's state-owned enterprises maintained steady operations in the first four months of the year, reporting increased total revenue and profits, according to official data released on Wednesday. 5月29日发布的官方数据显示，今年前4个月，我国国有企业运行平稳，营业总收入和利润总额均实现增长。 Data from the Ministry of Finance showed that during the period, the SOEs generated more than 26.19 trillion yuan in operating revenue, up 3.2 percent from a year earlier. 财政部的数据显示，1-4月，国有企业营业总收入261923.6亿元，同比增长3.2%。 …

Seres' Q1 net profit hits $30.34 million
7 months, 3 weeks ago

Seres' Q1 net profit hits $30.34 million

China Daily  

Seres showcases a vehicle platform at the Beijing auto show that runs from April 25 to May 4, 2024. Seres, which produces AITO-branded vehicles in collaboration with Huawei, saw its net profit reach 220 million yuan in the first quarter this year. From January to March this year, the company's operating revenue hit 26.56 billion yuan, up 421.76 percent year-on-year. …

Govt policies to aid banking sector, BOC says
8 months, 3 weeks ago

Govt policies to aid banking sector, BOC says

China Daily  

A view of the booth of Bank of China during an expo in Fuzhou, Fujian province. CHEN BIN/FOR CHINA DAILY The central government's supportive policies are expected to gradually improve business sentiment, boosting domestic demand and laying a solid foundation for the steady development of the banking industry, Bank of China said. The bank's operating income reached 624.14 billion yuan …

China's central SOEs' profits reach 2.6 trillion yuan in 2023
11 months ago

China's central SOEs' profits reach 2.6 trillion yuan in 2023

China Daily  

A view of a shipyard run by Dalian Shipbuilding Industry Co Ltd, a subsidiary of State-owned China State Shipbuilding Corp Ltd, in Dalian, Liaoning province, in February. The total profits of China's centrally-administered State-owned enterprises amounted to 2.6 trillion yuan in 2023, while their operating revenue reached 39.8 trillion yuan, according to data released by the country's top state assets …

Shenzhen-listed firms report revenues totaling 15t yuan in January-September
1 year, 1 month ago

Shenzhen-listed firms report revenues totaling 15t yuan in January-September

China Daily  

A staff member walks past the Shenzhen Stock Exchange in Shenzhen, South China's Guangdong province, Sept 21, 2020. BEIJING - Firms listed on China's Shenzhen Stock Exchange reported 15.06 trillion yuan in operating revenues in the first three quarters of 2023, up 4.19 percent year-on-year, according to a disclosure from the bourse. As of Oct 31, all of 2,830 firms …

Shenzhen-listed firms report revenues totaling 15t yuan in January-September
1 year, 1 month ago

Shenzhen-listed firms report revenues totaling 15t yuan in January-September

China Daily  

A staff member walks past the Shenzhen Stock Exchange in Shenzhen, South China's Guangdong province, Sept 21, 2020. BEIJING - Firms listed on China's Shenzhen Stock Exchange reported 15.06 trillion yuan in operating revenues in the first three quarters of 2023, up 4.19 percent year-on-year, according to a disclosure from the bourse. As of Oct 31, all of 2,830 firms …

China Evergrande reports its debt rose to $340 billion in 2022. It plans meetings with creditors
1 year, 5 months ago

China Evergrande reports its debt rose to $340 billion in 2022. It plans meetings with creditors

Associated Press  

BEIJING — China Evergrande, the property developer whose woes helped bring about a slump in the country’s vitally important real estate market, has reported its debts rose further to about $340 billion by the end of last year. Regulators stepped in to supervise Evergrande’s debt restructuring, but apparently rejected a bailout to avoid sending the wrong message to companies about …

Almost all SZSE A-share companies projected to make profits
1 year, 8 months ago

Almost all SZSE A-share companies projected to make profits

China Daily  

A pedestrian passes an office building of the Shenzhen Stock Exchange on Nov 27, 2018. Contemporary Amperex Technology Co Ltd, the world's largest electric vehicle battery maker, earned operating revenue of 328.59 billion yuan and net profit of 30.73 billion yuan in 2022, an increase of 152 percent and 93 percent year-on-year, respectively. China's largest NEV maker BYD generated revenue …

Almost all SZSE A-share companies projected to make profits
1 year, 8 months ago

Almost all SZSE A-share companies projected to make profits

China Daily  

A pedestrian passes an office building of the Shenzhen Stock Exchange on Nov 27, 2018. Contemporary Amperex Technology Co Ltd, the world's largest electric vehicle battery maker, earned operating revenue of 328.59 billion yuan and net profit of 30.73 billion yuan in 2022, an increase of 152 percent and 93 percent year-on-year, respectively. China's largest NEV maker BYD generated revenue …

Central SOEs to raise investment in mfg
1 year, 10 months ago

Central SOEs to raise investment in mfg

China Daily  

An AI-enabled robot plays piano at a restaurant in Hangzhou, Zhejiang province. Strategic emerging fields, upgrade of traditional industries will get attention China will raise the proportion of new investment in the manufacturing industry to 13 percent this year through its centrally administrated State-owned enterprises, while lifting the share of strategic emerging industries layout by more than 2 percentage points, …

China central SOE net profits up 35.71% in three years
1 year, 10 months ago

China central SOE net profits up 35.71% in three years

China Daily  

Haiji One, Asia's first deep-water jacket designed and built independently by China National Offshore Oil Corp, is put into operation in the Pearl River Mouth Basin, more than 200 kilometers southeast of Shenzhen, Guangdong province, in October. BEIJING - Net profits at China's centrally administrated State-owned enterprises rose 35.71 percent to 1.9 trillion yuan in 2022 from that achieved in …

SOEs on rise after 3-year reforms
1 year, 10 months ago

SOEs on rise after 3-year reforms

China Daily  

Employees of China State Construction Engineering Corp work on a highway project in Wuhan, Hubei province, in January. China's State-owned enterprises are expected to post higher revenues and build more pioneers in modern industrial chains this year as the country has completed all the major tasks of its three-year action plan for the reform of SOEs, said market observers and …

China completes all major tasks from three-year action plan
1 year, 10 months ago

China completes all major tasks from three-year action plan

China Daily  

An employee of CNPC checks a gas facility in Tianjin. China has completed all the major tasks of its three-year action plan for the reform of State-owned enterprises, said the country's top State-owned assets regulator after participating in a key work meeting on Tuesday. Vice-Premier Liu He, also head of the State Council leading group for SOE reform, attended and …

Reforms helping keep SOEs in good shape
2 years, 5 months ago

Reforms helping keep SOEs in good shape

China Daily  

Employees from a subsidiary of China Shipbuilding Industry Corp install clean-energy equipment in Nantong, Jiangsu province. China's centrally administered State-owned enterprises have completed over 95 percent of the measures outlined in the country's three-year action plan for SOE reforms by the end of June, the country's top State-owned assets regulator said on Friday. For instance, major strides were made by …

Net profit of central SOEs grows 6.1% in H1
2 years, 5 months ago

Net profit of central SOEs grows 6.1% in H1

China Daily  

A containership owned by COSCO, a central SOE, is berthed at a port in Qinzhou, Guangxi Zhuang autonomous region, in March. The net profits of Chinese central State-owned enterprises hit 1.08 trillion yuan during the first half of this year, up 6.1 percent year-on-year, according to the State-owned Assets and Administration Commission of the State Council. In the first half …

China's central SOEs up investment in new infrastructure
2 years, 6 months ago

China's central SOEs up investment in new infrastructure

China Daily  

Technicians from China Mobile check a 5G base station in Tongling, Anhui province. BEIJING -- China's centrally administered State-owned enterprises are ramping up investment in new types of infrastructure to facilitate industrial transformation, data from the country's top State-asset regulator showed. In 2021, over 700 subsidiaries of nearly 70 central SOEs invested a total of 400 billion yuan in new …

Regulators to ramp up efforts to further support listed SOEs
2 years, 7 months ago

Regulators to ramp up efforts to further support listed SOEs

China Daily  

The booth of COFCO, an SOE owning 16 listed companies, is seen during an agro-expo in Beijing. The government will inject high-quality assets, such as profitable innovation and high-tech related businesses, into listed companies owned by centrally administered State-owned enterprises to further enrich the content of its Three-Year Action Plan for SOEs, and bolster the real economy, said the country's …

Regulators to ramp up efforts to further support listed SOEs
2 years, 7 months ago

Regulators to ramp up efforts to further support listed SOEs

China Daily  

The booth of COFCO, an SOE owning 16 listed companies, is seen during an agro-expo in Beijing. The government will inject high-quality assets, such as profitable innovation and high-tech related businesses, into listed companies owned by centrally administered State-owned enterprises to further enrich the content of its Three-Year Action Plan for SOEs, and bolster the real economy, said the country's …

Shandong SOEs witness rapid growth in Q1
2 years, 7 months ago

Shandong SOEs witness rapid growth in Q1

China Daily  

Shandong provincial State-owned enterprises spend more on research and development. Twenty-six Shandong provincial State-owned enterprises witnessed rapid growth in operating revenue and net profit in the first quarter of 2022, Shandong officials announced at a recent news conference. From January to March, the 26 Shandong SOEs achieved a total operating revenue of 461.67 billion yuan, up 6.4 percent year-on-year, and …

Profit falls 81% as China cracks down on big tech: Alibaba
3 years, 1 month ago

Profit falls 81% as China cracks down on big tech: Alibaba

Hindustan Times  

Chinese e-commerce leader Alibaba Group said on Thursday that its profit for the most recent quarter tumbled 81 percent as it grappled with a government crackdown on the country's big tech champions. The Hangzhou-based company's revenues -- generated mainly by its core e-commerce operations -- reached 200.7 billion yuan, up 29 percent. Last year the government scuppered what would have …

Shandong SOEs post steady growth in Q1-3
3 years, 1 month ago

Shandong SOEs post steady growth in Q1-3

China Daily  

The operating revenue of 26 Shandong provincial State-owned enterprises reached 1.55 trillion yuan in the first three quarters of this year, official statistics showed. In the first three quarters, Shandong Energy Group achieved operating revenue of 620.56 billion yuan, an increase 30.66 percent year-on-year. Shandong Heavy Industry Group posted operating revenue of 276.93 billion yuan, an increase of 20.91 percent …

Shandong SOEs show steady growth in Jan-Sept
3 years, 1 month ago

Shandong SOEs show steady growth in Jan-Sept

China Daily  

State-owned enterprises in Shandong province performed well in the first three quarters of this year, said local authorities at a news conference held on Oct 26. By the end of September, their total assets amounted to 4.04 trillion yuan, up 8.4 percent and 28.1 percent respectively compared with the same period in 2020 and 2019. In the first three quarters, …

China's food industry records growth in production, sales
3 years, 3 months ago

China's food industry records growth in production, sales

China Daily  

BEIJING -- China's food industry reported stable expansion in terms of production and sales in the first seven months of the year, data from the Ministry of Industry and Information Technology showed. In the first seven months, retail sales of the food industry witnessed robust growth, with that of grain, oil and food up 10.6 percent from a year earlier …

Shandong's fiscal revenue grows by 22.3% in Jan-July
3 years, 4 months ago

Shandong's fiscal revenue grows by 22.3% in Jan-July

China Daily  

From January to July this year, Shandong province's general public budget revenue reached 504.2 billion yuan, up 22.3 percent and 17.6 percent over the same period in 2020 and 2019 respectively, statistics from the Shandong Provincial Department of Finance showed. From January to July this year, the province's tax revenue reached 363.8 billion yuan, up 24 percent and 12.9 percent …

Shandong's fiscal revenue grows by 22.3% in Jan-July
3 years, 4 months ago

Shandong's fiscal revenue grows by 22.3% in Jan-July

China Daily  

From January to July this year, Shandong province's general public budget revenue reached 504.2 billion yuan, up 22.3 percent and 17.6 percent over the same period in 2020 and 2019 respectively, statistics from the Shandong Provincial Department of Finance showed. From January to July this year, the province's tax revenue reached 363.8 billion yuan, up 24 percent and 12.9 percent …

Zhejiang enterprises buck downward trend
3 years, 4 months ago

Zhejiang enterprises buck downward trend

China Daily  

ezhejiang.gov.cn| Updated :2021-08-19 An aerial view of the Taihu Lake scenic area in Huzhou, Zhejiang province. CHINA DAILY In 2020, enterprises in East China's Zhejiang province saw their total assets and operating revenues grow 10.6 percent and 9.8 percent year-on-year respectively despite the COVID-19 pandemic, according to the latest statistics released by the Zhejiang Administration for Market Regulation. As much …

Shandong State-owned enterprises deliver strong performance in H1
3 years, 5 months ago

Shandong State-owned enterprises deliver strong performance in H1

China Daily  

Provincial State-owned enterprises in Shandong posted strong performance in the first half of this year, according to an announcement at a news conference held on July 22 by the Information Office of the Shandong Provincial People's Government. By the end of June, the total assets of Shandong provincial State-owned enterprises were valued at 3.93 trillion yuan, up 9 percent and …

3-year action plan for SOEs set for 70% completion by end of this year
3 years, 10 months ago

3-year action plan for SOEs set for 70% completion by end of this year

China Daily  

China FAW Group employees work on an assembly line in Changchun, capital of Jilin province, in September. During the 13th Five-Year Plan period, the total profits and net profits of centrally controlled SOEs grew at an average annual rate of 8.8 percent and 9.3 percent, respectively. Centrally controlled SOEs played an exemplary role in the country's strategy, with the investment …

Shandong provincial State-owned enterprises achieve record high annual revenues
3 years, 10 months ago

Shandong provincial State-owned enterprises achieve record high annual revenues

China Daily  

The operating revenue of Shandong provincial State-owned enterprises reached 1.73 trillion yuan in 2020, hitting a record high and up 12.7 percent year-on-year, according to the Shandong Provincial State-owned Assets Supervision and Administration Commission. In the first quarter of 2020, the total profits of Shandong provincial State-owned enterprises fell by 62.5 percent year-on-year, close to the biggest decline in the …

Shandong's GDP grows 3.6% in 2020
3 years, 11 months ago

Shandong's GDP grows 3.6% in 2020

China Daily  

The gross domestic product of East China's Shandong province grew 3.6 percent in 2020, according to a news conference held on Jan 19 by the Information Office of Shandong Provincial People's Government. A night view of downtown Jinan, capital of Shandong province The added value of the province's primary industry was 536.38 billion yuan, up 2.7 percent. The added value …

Profit at Chinese state industry rises with virus recovery
3 years, 11 months ago

Profit at Chinese state industry rises with virus recovery

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Total revenue for national-level companies …

Chinese SOE profits bounce back in June
4 years, 5 months ago

Chinese SOE profits bounce back in June

China Daily  

Workers from China Construction Third Engineering Bureau Co Ltd conduct workplace safety training at a construction site in Urumqi, Northwest China's Xinjiang Uygur autonomous region, on June 23, 2020. BEIJING - Profits and revenues of China's State-owned and State-controlled enterprises posted this year's first year-on-year growth in June, the Ministry of Finance said on Thursday. Profits rose by 6 percent …

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