The main financial indicators of the SASAC-supervised enterprises at the provincial and municipal levels maintained rapid increase in the first five months of the year, the Provincial State-owned Assets Supervision and Administration Commission said on Tuesday.
In the first five months of this year, the SASAC-supervised enterprises at the provincial and municipal levels maintained stable development, posting operating income of 360.97 billion yuan, an increase of 12.85% year on year and recording a total profit of 40.472 billion yuan, an increase of 17.61% year on year.
The SASAC-supervised enterprises at the provincial and municipal levels posted 5.88 trillion yuan of total assets in the five-month period and the equity attributable to the parent company reached 182.11 billion yuan, up by 13.7% and 11.96% respectively.
The growth of benefits is inseparable from the level of competition among state-owned enterprises to further enhance their main business. Take Xuzhou Construction Mining Machinery Group as an example. Since the beginning of this year, the company has built the largest underground coal mine in northwest China’s Xinjiang Autonomous Region and built an internationally advanced coal-to-methanol production line in northwest China’s Shaanxi Province. In the first five months of this year, the Group reported 11.6 billion yuan of operating income and a profit of 452 million yuan, an increase of 18.23%.
The average asset-liability ratio of the SASAC-supervised enterprises is controlled at about 60%. The average asset-liability ratio of provincial enterprises is at 62.59%, and that of the state-owned enterprises under the supervision of prefecture-level cities is at 60.02%, showing a reasonable range of the overall asset-liability ratio.
(Source:ourjiangsu.com)
