SOE reform boosts profits

CNC
Added On April 17, 2018

Now a look at the latest figures from China's central state-owned enterprises. Profits continue to jump while debt fell. 
 
According to China's top SOE regulator on Monday, China's central SOEs made 6.4 trillion yuan in revenue, or about one trillion U.S. dollars in the first quarter. 
 
That's  up nearly 9 percent year-on-year.
 
While net profits jumped by more than 19 percent.
 
Debt is also falling.
 
The average asset-liability ratio for central SOEs stood at about 66 percent by the end of March, down by 0.4 percentage points in just three months.
 
The Chinese government has been pushing for supply-side structural reform in recent years, looking to lower debt, cut over-capacity and imporve competitiveness.