Business
13:31, 16-Apr-2018
China's central SOEs see drop in asset-liability ratio in Q1
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China's central state-owned enterprises (SOEs) saw a drop in their asset-liability ratio in the first quarter of this year thanks to deleveraging efforts, the country's top SOE regulator said Monday.
The country's SOE sector has become a major target for the ongoing deleveraging drive, which aims to rein in mounting debt and guard against financial risks.
The average asset-liability ratio for central SOEs stood at 65.9 percent by the end of March, down by 0.4 percentage points compared with the beginning of this year, according to the State-owned Assets Supervision and Administration Commission.
Besides, the country’s central SOEs saw their net profits surge 19.4 percent in the first quarter of the year.
The total revenues of the central SOEs increased by 8.7 percent year-on-year to 6.4 trillion yuan (about 1.02 trillion US dollars) in the first quarter.
Source(s): Xinhua News Agency