Net profits of China’s state-owned enterprises (SOEs) was up 29.8% year-on-year in 2021, reaching a total of RMB 1.8 trillion ($283.56 billion), reports Reuters. The growth was also higher than the 2.1% in 2020, according to a statement from the State-owned Assets Supervision and Administration Commission.
The overall revenue of central government-owned state firms grew 19.5% from a year earlier to RMB 36.3 trillion in 2021, the State-owned Assets Supervision and Administration Commission also said.