State-owned enterprises rises 10.2% in revenue in Jan-Apr

A ccording to a report released by China’s Ministry of Finance on May 22, in the January-April period of the current year the aggregate gross revenue of China state-owned enterprises totalled RMB 14.0015 trillion (US$2.28 trillion), up 10.2 % year on year, including RMB 8.69176 trillion (US$1.42 trillion) for enterprises controlled centrally by the Chinese state and RMB 5.30974 trillion (US$866.2 billion) for public sector enterprises controlled at a more local (e.g., provincial) level, up nine % and 12.3 % respectively, both on year-on-year basis.

Meanwhile, in the period in question, the total operating cost of China state-owned enterprises amounted to RMB 13.4393 trillion (US$2.19 trillion), up 10.6 % year on year, including RMB 8.23383 trillion (US$1.34 trillion) for centrally controlled state enterprises and RMB 5.20553 trillion (US$849.2 billion) of locally controlled state enterprises, up 8.8 % and 13.4 % respectively, both on year-on-year basis.

In addition, in the first four months of the current year, the aggregate gross profit of Chinese state-owned enterprises totalled RMB 689.13 billion (US$112.4 billion), up 5.3 % year on year. In particular, the gross profit of centrally controlled state enterprises and locally controlled state-owned enterprises amounted to RMB 536.24 billion (US$87.48 billion) and RMB 152.89 billion (US$24.94 billion), up 12.8 % and down 14.7 % respectively, both on year-on-year basis.