State-owned enterprises' profits increased by 6.1% in the first eight months

According to data released by the Ministry of Finance on May 25, from January to August 2019, the profits of state-owned and state-owned holding enterprises (hereinafter referred to as state-owned enterprises) in China totaled 240.93 billion yuan, an increase of 6.1% over the same period last year. Among them, 1599.29 billion yuan for central enterprises, an increase of 6.6% compared with the same period last year; 810.02 billion yuan for local state-owned enterprises, an increase of 5.1% compared with the same period last year.

From the data of the first eight months, the main economic indicators of state-owned enterprises continue to grow, and the level of assets and liabilities continues to decline. From January to August, the total business income of state-owned enterprises was 394.884 billion yuan, an increase of 7.4% over the same period of last year. Among them, 2285.93 billion yuan for central enterprises, an increase of 5.8%, and 1662.84.7 billion yuan for local state-owned enterprises, an increase of 9.7%.

In terms of the total operating cost, from January to August, the total operating cost of state-owned enterprises was 38117.99 billion yuan, an increase of 7.7% over the same period of last year. Among them, 21729.53 billion yuan for central enterprises, an increase of 6.0% compared with the same period last year, and 16388.46 billion yuan for local state-owned enterprises, an increase of 10.0% compared with the same period last year. In terms of taxable fees, from January to August, the taxable fees paid by state-owned enterprises amounted to 30.59 billion yuan, down 0.3% from the same period last year. Among them, 2155.64 billion yuan for central enterprises, down 0.4% year on year; 850.34 billion yuan for local state-owned enterprises, up 0.1% year on year. In terms of net profit after tax, from January to August, net profit after tax of state-owned enterprises was 181.57 billion yuan, an increase of 7.4% over the same period of last year, and the net profit attributed to the owner of the parent company was 111.23 billion yuan. Among them, 12.76 billion yuan for central enterprises, an increase of 8.8% over the previous year, was attributed to the net profit of the owner of the parent company of 76.21 billion yuan; 60.81 billion yuan for local state-owned enterprises, an increase of 4.8% over the previous year, and 349.9 billion yuan for the owner of the parent company.

In the aspect of cost-cost profit margin, from January to August, the cost-cost profit margin of state-owned enterprises dropped by 0.1 percentage points, which was 6.4%. Among them, 7.5% of the central enterprises were the same as the same period last year, while 5.0% of the local state-owned enterprises fell by 0.2 percentage points. At the end of August, the asset-liability ratio of state-owned enterprises dropped by 0.1 percentage points, which was 64.4%. Among them, 67.5% of the central enterprises, down 0.2 percentage points; 62.2% of the local state-owned enterprises, the same as the same period last year.

From the perspective of the profit situation of the main industries, the profits of building materials, construction, transportation and warehousing industries grew rapidly.