18 January 2023

China's Central State-Owned Enterprises Saw Steady Revenue Growth in 2022

International and Arabic
  • China_Eco

Beijing, January 18 (QNA) - The revenues of China's centrally administrated state-owned enterprises (SOEs) increased 8.3 percent year on year to 39.4 trillion yuan (5.86 trillion U.S. dollars) in 2022, the country's SOE regulator said.

Profits gained 5.5 percent year on year to reach 2.55 trillion yuan and net profits climbed 5 percent to 1.9 trillion yuan, according to the State-owned Assets Supervision and Administration Commission of the State Council.

China's SOEs balanced COVID-19 response with effective production and also introduced a series of reforms in 2022, said secretary general and spokesperson of the commission, Peng Huagang.

In 2022, the productivity of central SOEs increased steadily, with the annualized overall labor productivity reaching about 763,000 yuan per person, up 8.7 percent year on year.

The central SOEs raked in 29 trillion yuan (about 4.05 trillion US dollars) in revenue in the Jan.-Sept. period, up 10.9 percent from the same period last year. (QNA)


Economy, International
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