Ministry of Finance: SOE profits down 0.6% in H1

The Ministry of Finance announced that state-owned enterprises (SOEs) reported total profits of nearly 2.27 trillion yuan in the first half of the year, a decrease of 0.6% year-on-year. The growth rate for the first five months of this year was 2.3%.

Data shows that SOEs' total operating revenue for the year's first half was 40.83 trillion yuan, an increase of 1.9% year-on-year. The growth rate for the first five months was 3.1%.

As of the end of June, the asset-liability ratio of SOEs was 64.9%, up by 0.1 percentage points.