Net profits of China's central SOEs hit $275 bln in 11 months

Home World Net profits of China's central SOEs hit $275 bln in 11 months 20-12-2021 11:23 AM Ammon News - Net profits of China's centrally-administered state-owned enterprises (SOEs) reached 1.75 trillion yuan about ($274.94 billion) in the January-November period of 2021, according to the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. Firms in the petroleum and petrochemical, iron and steel as well as coal industries saw an apparent increase in their profitability, the SASAC indicated, adding that " the research and development (R&D) intensity (the percentage of revenue that is reinvested in R&D) of the central SOEs went up by 0.1 percentage points from a year earlier to stand at 2.3 percent during the period." Data showed that in the first three quarters, central SOEs' investment in the strategic emerging industries reached 726.7 billion yuan, up 6.3 percent year on year. By the end of last month, the debt-to-asset ratio of China's central SOEs came in at 65.1 percent.

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Net profits of China's central SOEs hit $275 bln in 11 months

20-12-2021 11:23 AM

Ammon News - Net profits of China's centrally-administered state-owned enterprises (SOEs) reached 1.75 trillion yuan about ($274.94 billion) in the January-November period of 2021, according to the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.

Firms in the petroleum and petrochemical, iron and steel as well as coal industries saw an apparent increase in their profitability, the SASAC indicated, adding that " the research and development (R&D) intensity (the percentage of revenue that is reinvested in R&D) of the central SOEs went up by 0.1 percentage points from a year earlier to stand at 2.3 percent during the period."

Data showed that in the first three quarters, central SOEs' investment in the strategic emerging industries reached 726.7 billion yuan, up 6.3 percent year on year. By the end of last month, the debt-to-asset ratio of China's central SOEs came in at 65.1 percent.

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