China’s central state-owned enterprises registered strong revenue and profit growth in the first three months of 2022, according to the State Council’s State-Owned Assets Supervision and Administration Commission.
The net profit of central state-owned enterprises grew 13.7 percent year on year to 472.3 billion yuan (regarding 73.9 billion US dollars) in the first quarter, the Xinhua News Agency reported Sunday, citing the commission.
During the period, the combined revenue of the central state-owned enterprises reached 9 trillion yuan, up 15.4 percent year on year.
The committee noted improvements in central state-owned enterprises’ R&D investments as well as their productivity during that period, and called for a stronger commitment to achieving annual targets amid headwinds.
