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 past decade. As the stabilizer of the province's economic operations, provincial State-owned enterprises have exerted a strong influence in economic and social recovery, said local authorities. By the end of December 2020, the total assets of 23 provincial State-owned enterprises in Shandong amounted to 3.59 trillion yuan, up 10.6 percent year-on-year, while total owners' equity reached 1.13 trillion yuan, up 9 percent year-on-year.

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