China’s State-Owned Enterprises Report Revenue Growth in 2024

Beijing, The Gulf Observer: The revenues of China’s state-owned enterprises (SOEs) increased by 1.3 percent in 2024 compared to the previous year, according to recent official data released by the Ministry of Finance.

The total operating revenue of SOEs reached 84.72 trillion yuan (11.77 trillion U.S. dollars) in 2024, reflecting steady growth despite global economic challenges.

Meanwhile, the combined profits of SOEs saw a modest 0.4 percent increase, reaching 4.35 trillion yuan for the year.

The report also highlighted an increase in the debt-to-asset ratio, which stood at 64.8 percent at the end of 2024, up 0.3 percentage points from the previous year.

China’s SOEs play a crucial role in the national economy, and their financial performance remains a key indicator of economic stability and resilience.