China’s SOEs report 1.6% increase in Jan-July revenues

China’s state-owned enterprises (SOEs) witnessed a 1.6 percent increase in revenues from January to July 2024, the Ministry of Finance announced on Tuesday.

Their combined revenues during this period reached approximately 47.29 trillion yuan (about $6.64 trillion).

However, combined profits dipped 2 percent year on year to over 2.57 trillion yuan. The data also revealed that SOEs’ debt-to-asset ratio reached 64.9 percent at the end of July.

Attribution: China’s Ministry of Finance report

Subediting: Y.Yasser