The Ministry of Finance recently released the economic performance of state-owned and state-controlled enterprises for the first quarter of 2024, showing positive growth in total operating income and profits.
According to the report, the total operating income of state-owned enterprises in the country increased by 3.2% year-on-year, reaching 19,811.18 billion yuan from January to March. Furthermore, the total profit of these enterprises saw a 2.8% year-on-year increase, totaling 1.07576 billion yuan for the same period.
In addition, taxes and fees payable by state-owned enterprises also showed a 0.9% year-on-year increase, totaling 1.60306 billion yuan. The asset-liability ratio of these enterprises at the end of March was reported at 65.0%, which is a slight increase of 0.3 percentage points.
This data provides insight into the financial health of state-owned enterprises in the current economic climate. The Ministry of Finance’s announcement highlights the resilience and growth of these companies despite external challenges.
As always, readers are advised to conduct their own research and due diligence before making any investment decisions based on this information.