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Ministry of Finance: Profits in steel, petroleum and petrochemical, coal and other industries increased significantly year-on-year

2018-05-28


According to news from the Ministry of Finance on the 24th, the Ministry of Finance released the economic operation of state-owned and state-controlled enterprises across the country from January to April 2018. From January to April 2018, the economic performance of state-owned and state-controlled enterprises (hereinafter referred to as state-owned enterprises) was good. Both solvency and profitability improved over the same period last year, with profit growth 8.7 percentage points higher than revenue, and profits in key industries such as steel, petroleum and petrochemical, and coal increased significantly.

According to news from the Ministry of Finance on the 24th, the Ministry of Finance released the economic operation of state-owned and state-controlled enterprises across the country from January to April 2018.

From January to April 2018, the economic performance of state-owned and state-controlled enterprises (hereinafter referred to as state-owned enterprises) was good. Both solvency and profitability improved over the same period last year, with profit growth 8.7 percentage points higher than revenue, and profits in key industries such as steel, petroleum and petrochemical, and coal increased significantly.

Main economic benefit indicators of state-owned enterprises in 1.

(I) total operating income. From January to April, the total operating income of state-owned enterprises was 17500.25 billion billion yuan, up 9.7 percent year on year. (1) Central enterprises 10295.17 billion yuan, up 9.5 year on year. (2) Local state-owned enterprises 7205.08 billion yuan, up 10.1 year on year.

(II) total operating costs. From January to April, the total operating cost of state-owned enterprises was 16831.52 billion yuan, up 9.2 percent year-on-year, of whichSalesExpenses, administrative expenses and financial expenses increased by 7.3, 12.3 and 11.8 respectively. (1) Central enterprises 9757.86 billion yuan, up 8.9 percent year-on-year, of which sales, management and financial expenses increased by 7.5 percent, 11.0 percent and 10.8 percent, respectively. (2) Local state-owned enterprises 7073.66 billion billion yuan, up 9.7 percent year-on-year, of which sales, management and financial expenses increased by 6.9 percent, 13.8 percent and 12.6 percent year-on-year, respectively.

(III) realize profits. From January to April, the total profit of state-owned enterprises was 1005.49 billion billion yuan, up 18.4 percent year on year. (1) Central enterprises 692.94 billion yuan, up 19.1 year on year. (2) Local state-owned enterprises 312.55 billion yuan, up 16.9 year on year.

(IV) taxes payable. From January to April, the tax payable by state-owned enterprises was 1507.56 billion yuan, up 8.9 percent year on year. (1) Central enterprises 1094.87 billion yuan, up 7.0 year on year. (2) Local state-owned enterprises 412.69 billion yuan, up 14.2 year on year.

(V) assets, liabilities and owner's equity. At the end of April, the total assets of state-owned enterprises were 166811.72 billion billion yuan, up 9.9 percent from the same period last year; the total liabilities were 108484.29 billion billion yuan, up 9.2 percent from the same period last year; and the total owner's equity was 58327.43 billion billion yuan, up 11.1 percent from the same period last year. (1) The total assets of central enterprises were 76719.15 billion billion yuan, up 7.3 percent year-on-year; the total liabilities were 51999.41 billion billion yuan, up 6.6 percent year-on-year; and the total owner's equity was 24719.74 billion billion yuan, up 8.7 percent year-on-year. (2) The total assets of local state-owned enterprises were 90092.57 billion billion yuan, up 12.2 percent year-on-year; the total liabilities were 56484.88 billion billion yuan, up 11.7 percent year-on-year; and the total owner's equity was 33607.69 billion billion yuan, up 13.0 percent year-on-year.

Profitability of Major Industries in 2.

From January to April, the profits of steel, petroleum and petrochemical, coal and other industries increased significantly year-on-year, all higher than the growth rate of income. Non-ferrous and other industries to achieve a larger decline in profits.

Note: ① The national state-owned and state-controlled enterprises mentioned in this monthly report include centrally managed enterprises, enterprises affiliated to central departments and units, and local state-owned and state-controlled enterprises in 36 provinces (autonomous regions, municipalities directly under the Central Government, and cities under separate state planning), excluding state-owned Financial enterprises.

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