17:29, 10-Mar-2018
China's SOE Reform: Profits for centrally-administrated SOEs up 15%
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China's state-owned enterprises saw rising profits last year. Centrally-administrated SOEs recorded 26-trillion-yuan in revenue in 2017 - up 13 percent from the year before.
Profits stood at 1.4 trillion yuan - a 15 percent increase and the best results in five years. Total assets topped 54-trillion yuan while net assets stood at 18-trillion yuan. They paid about 2-trillion yuan in taxes - up 5-percent. Officials credit supply side reforms saying changes in corporate governance, de-leveraging, and inventory reductions helped reduce costs and boost efficiency.