Profits of Chinese state-owned enterprises (SOEs) maintained stable growth in the first quarter of 2019, official data showed Tuesday.
The combined profits of SOEs rose 15.6 percent year on year to 819.77 billion yuan (about 122 billion U.S. dollars) for the January-March period, the Ministry of Finance (MOF) said on its website.
SOEs generated a revenue of almost 14 trillion yuan during the period, up 8.9 percent from a year earlier, and operating costs increased 9.2 percent to 13.52 trillion yuan.
By the end of March, total SOE assets had reached 190.27 trillion yuan, up 9 percent in the first three months of the year, while their liabilities went up 8.8 percent to 122.57 trillion yuan. The debt-to-asset ratio of SOEs went down 0.1 percentage points to 64.4 percent, according to the MOF.
SOEs in sectors including oil and transport posted robust profit growth during the period.