China"s centrally administered State-owned enterprises have completed over 95 percent of the measures outlined in the country's three-year action plan (2020-22) for SOE reforms by the end of June, the country's top State-owned assets regulator said on Friday. The three-year action plan is designed to implement measures outlined by the 19th National Congress of the Communist Party of China in late 2017 to push SOEs to adapt themselves to market-oriented and law-based rules and norms in the new era as soon as possible, and assume greater responsibility in an open and innovative environment. Pushed by the reforms, positive progress has

The net profits of Chinese central State-owned enterprises (SOEs) hit 1.08 trillion yuan ($160.9 billion) during the first half of this year, up 6.1 percent year-on-year, according to the State-owned Assets and Administration Commission of the State Council (SASAC). In the first half of this year, central SOEs raked in 19.2 trillion yuan in operating revenue and 1.4 trillion yuan in combined profits, increasing 12 percent and 7.1 percent year-on-year respectively. The stellar growth turned out to be a hard-earned victory given that the recent COVID outbreaks had disrupted China"s economic revival this year. After a strong start in early

Having registered stable growth in both revenue and profit in the first half of the year, China"s central State-owned enterprises are expected to do an encore in the second half, experts and business leaders said on Monday. Data from the State-owned Assets Supervision and Administration Commission showed on Saturday that combined revenue of central SOEs totaled 19.2 trillion yuan ($2.85 trillion), up 12 percent year-on-year, which generated total gross profit of 1.40 trillion yuan, up 7 percent, and total net profit of 1.08 trillion yuan, up 6 percent. Analysts said the figures reflect further improvement in the development quality of