Chinese SOEs see uptick in Jan-July revenues

China FAW Group employees work on an assembly line in Changchun, capital of Jilin province, in September. [Photo/Xinhua]

BEIJING: China's State-owned enterprises (SOEs) saw a 1.6-percent increase in revenues from January to July this year, the Ministry of Finance said on Tuesday.

Their combined revenues totaled around 47.29 trillion yuan ($6.64 trillion) during this period.

Combined profits dipped 2 percent year-on-year to over 2.57 trillion yuan, the data showed.

SOEs saw their debt-to-asset ratio reach 64.9 percent at the end of July, according to the data.

These figures, excluding financial firms, were collected from SOEs in both provincial-level regions and those administered by the central government. - China Daily/ANN