China's central SOEs' revenue to hit 39.4 trln yuan in 2022

BEIJING, Jan. 5 (Xinhua) -- China's centrally-administered state-owned enterprises (SOEs) are likely to see a steady expansion in revenue and profit in 2022, said the country's top state assets regulator on Thursday.

The combined annual revenues of central SOEs are expected to climb 8.3 percent year on year to 39.4 trillion yuan (about 5.7 trillion U.S. dollars), according to the State-owned Assets Supervision and Administration Commission of the State Council.

Their profits during the period are estimated to hit 2.55 trillion yuan, up 5.5 percent from the previous year, according to the commission.

Thursday's data also showed that by the end of last November, the average debt-to-asset ratio of central SOEs stood at 64.9 percent, down 0.2 percentage points from a year earlier.