China’s central SOEs profits up 5.6% in first four months

In this Nov 27, 2013 photo, a general view shows the skyline of a central business district in Beijing, the capital of China. (WANG ZHAO / AFP)

BEIJING – China's centrally-administered state-owned enterprises saw revenue and profit grow in the first four months of 2022, said the country's top state-asset regulator.

The net profits of central SOEs expanded by 5.6 percent year-on-year in the four-month period, said the State-owned Assets Supervision and Administration Commission of the State Council.

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Their combined revenues during the period climbed 12.9 percent from the previous year, according to the regulator.

Noting the increasing pressure on business operations of central SOEs since April, the regulator called for more efforts into tasks like enhancing production efficiency and investing in research and development to ensure reasonable earnings growth in the first half of this year.