China's SOEs log revenue growth in 2022

BEIJING, Jan. 30 (Xinhua) -- China's state-owned enterprises (SOEs) posted increased revenues last year, according to official data released Monday.

The SOEs raked in 82.6 trillion yuan (about 12.2 trillion U.S. dollars) in operating revenues in 2022, up 8.3 percent from a year ago, data from the Ministry of Finance shows.

The combined profits of SOEs decreased 5.1 percent year on year to 4.31 trillion yuan last year, the ministry said.

The SOEs saw their debt-to-asset ratio reach 64.4 percent as of the end of 2022, up 0.4 percentage points from the previous year, according to the ministry.

The net profits of centrally-administered SOEs climbed 5 percent year on year to 1.9 trillion yuan in 2022, according to data from the State-owned Assets Supervision and Administration Commission of the State Council.