Chinese SOEs maintain sound operation with growing revenue, profits

BEIJING, May 29 (Xinhua) -- China's state-owned enterprises (SOEs) maintained steady operations in the first four months of the year, reporting increased total revenue and profits, according to official data released on Wednesday.

Data from the Ministry of Finance showed that during the period, the SOEs generated more than 26.19 trillion yuan (about 3.68 trillion U.S. dollars) in operating revenue, up 3.2 percent from a year earlier.

The combined profits of SOEs increased 3.8 percent year on year to more than 1.38 trillion yuan, the data showed.

The SOEs saw their debt-to-asset ratio reach 64.9 percent at the end of April, up 0.1 percentage points from the previous year, according to the ministry.

These figures, which exclude financial firms, were collected from SOEs in provincial-level regions and those administered by the central government.

China has rolled out measures to strengthen the supervision of SOEs and emphasized continuous efforts to deepen SOE reform lately.

The country's State Council has issued a disciplinary action regulation for those in managerial positions of SOEs to intensify oversight of SOE managers, and the regulation will take effect on Sept. 1 this year.