China central SOEs’ profits up 6.1% in H1

In this undated photo, employees from a subsidiary of China Shipbuilding Industry Corp install clean-energy equipment in Nantong, Jiangsu province. (PHOTO / XINHUA)

BEIJING – China's centrally-administered state-owned enterprises reported steady profit growth in the first half of 2022, the state-asset regulator said Saturday.

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The combined net profit of central SOEs totaled around 1.086 trillion yuan ($160.9 billion) in the first half, an increase of 6.1 percent over the same period of last year, said the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.

From January to June, the country's 97 central SOEs raked in 19.2 trillion yuan in combined revenue, up 12 percent year-on-year.

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The operating profit margin of the central SOEs was at a relatively high level and the ratio of liabilities to assets remained stable in the first half of the year, according to the SASAC.