Profits of Chinese SOEs surge in Jan.-April

BEIJING, May 28 (Xinhua) -- The combined profits of China's state-owned enterprises skyrocketed 240 percent from a year ago to 1.36 trillion yuan (about 213.25 billion U.S. dollars) in the first four months of 2021, official data showed Friday.

During the period, the profits of centrally administered SOEs rose 160 percent year on year to 961.08 billion yuan, according to the Ministry of Finance.

The SOEs saw their total revenue surge 32.2 percent year on year to about 22.22 trillion yuan.

The revenue of centrally administered SOEs increased by 27.6 percent year on year to nearly 12.64 trillion yuan.

At the end of April, the debt-to-asset ratio of the country's SOEs came in at 64.3 percent, edging down 0.1 percentage points from the level seen during the same period last year, the data showed.