State owned enterprises' profits increased by 7.2% year-on-year in the first half of the year

On July 23rd, the Ministry of Finance released statistical data showing that in the first half of this year, the main economic indicators of state-owned and state-controlled enterprises in China continued to maintain a growth trend, with a total profit of 1.82 trillion yuan, a year-on-year increase of 7.2%.

Statistics show that in the first half of the year, the total operating revenue of state-owned enterprises was 2.94921 trillion yuan, a year-on-year increase of 7.8%. Among them, central enterprises amounted to 1.09464 trillion yuan, a year-on-year increase of 6.2%; Local state-owned enterprises amounted to 1.239746 trillion yuan, a year-on-year increase of 10%. In terms of total profits, central enterprises achieved 1.21753 trillion yuan, a year-on-year increase of 8.8%; Local state-owned enterprises reached 602.51 billion yuan, a year-on-year increase of 4.1%.

Bai Jingming, Vice President of the Chinese Academy of Fiscal Sciences, believes that in the first half of the year, the growth rates of total operating revenue and profits of state-owned enterprises exceeded the growth rate of gross domestic product, reflecting the stable and positive operation of overseas enterprises. Especially high-tech industries account for a large proportion in state-owned enterprises, and profit growth indicates a continuous improvement in the quality of economic development.

In terms of cost and expense profit margin, in the first half of the year, the cost and expense profit margin of state-owned enterprises was 6.5%, which was basically the same as the same period last year. Among them, central enterprises accounted for 7.6%, an increase of 0.2 percentage points; Local state-owned enterprises accounted for 5%, a decrease of 0.3 percentage points.

Statistics show that at the end of June, the asset liability ratio of state-owned enterprises was 64.5%, a decrease of 0.1 percentage points. Among them, central enterprises accounted for 67.6%, a decrease of 0.2 percentage points; Local state-owned enterprises accounted for 62.2%, an increase of 0.1 percentage points.

The decrease in the asset liability ratio reflects the positive effects of a series of reform policies such as deleveraging. In addition, industries such as power production and building materials have seen rapid profit growth, indicating strong demand in downstream industries and the continuous enhancement of China's economic demand potential and endogenous driving force, "said Bai Jingming.

Information source: Shandong Provincial Government website

Editor He Yang of this website/Organizing