The operation benefit of state-owned enterprises is improved

On December 23, the Ministry of Finance released statistical data showing that from January to November, the main economic indicators of state-owned and state-owned holding enterprises maintained a growth trend, and the taxes payable continued to decline. In the first 11 months, the total profits of state-owned enterprises reached 3198.1 billion yuan, up 5.3% year on year. "In terms of the main economic indicators such as the profits of state-owned enterprises in the past 11 months, the operation of state-owned enterprises has been generally stable and the economic benefits have been improved, which is in line with the overall stable and steady development trend of China's economic operation." Said Bai Jingming, vice president of the Chinese Academy of financial sciences. Statistics show that among the total profits, the central enterprises are 2093120 million yuan, up 7.7% year on year; the local state-owned enterprises are 1104.98 billion yuan, up 1% year on year. From January to November, the after tax net profit of state-owned enterprises was 2391 billion yuan, up 6.1% year on year, and the net profit attributable to the owners of the parent company was 1415.5 billion yuan. Li Xuhong, director of the Institute of fiscal policy and application of Beijing National Accounting Institute, analyzed that the main business indicators of state-owned enterprises are stable and positive, and the enterprises maintain good profitability. "

Against the background of tax reduction and fee reduction, the total profits of state-owned enterprises have grown steadily, which can broaden the sources of fiscal revenue and be conducive to the sustainable development of finance." Li Xuhong said. Meanwhile, from January to November, the total operating revenue of state-owned enterprises reached 55745.53 billion yuan, an increase of 6.4% year on year. Among them, the central enterprises reached 32164.91 billion yuan, up 5.3% year on year; the local state-owned enterprises reached 23580.62 billion yuan, up 7.9% year on year. According to Bai Jingming's analysis, the growth rate of profits of state-owned enterprises is close to the growth rate of business income, reflecting the improvement of enterprise management level, the optimization of product structure and strong profitability, which are mainly due to the effect of tax reduction and fee reduction policies and the continuous transformation and upgrading of state-owned enterprises. From January to November, the total operating cost of state-owned enterprises was 53985.83 billion yuan, up 6.6% year on year. Among them, the central enterprises reached 30734.01 billion yuan, a year-on-year increase of 5.4%; the local state-owned enterprises reached 23251.82 billion yuan, a year-on-year increase of 8.2%. In terms of taxes payable, from January to November, the taxes payable by state-owned enterprises reached 4129.74 billion yuan, down 0.4% year on year.

Among them, central enterprises reached 2937.15 billion yuan, down 0.2% year on year; local state-owned enterprises reached 119.59 billion yuan, down 1.1% year on year. This year, China will implement a larger scale of tax reduction and fee reduction, which is expected to exceed 2 trillion yuan in the whole year. Bai Jingming said that the reduction of taxes payable by state-owned enterprises is the embodiment of the effect of tax reduction policy. Li Xuhong analyzed that since this year, the dividend of tax reduction and fee reduction has continued to play a role. With the implementation and promotion of policies such as value-added tax increment, tax payable by state-owned enterprises in the first 11 months increased by 0.2 percentage points compared with that in January to October. Reducing the burden of state-owned enterprises is conducive to further playing its positive role in technological innovation, industrial upgrading, regional coordination, and promoting high-quality economic development. In terms of cost profit margin, from January to November, the cost profit margin of state-owned enterprises was 6%, down 0.1 percentage points. Among them, central enterprises increased by 6.9%, 0.2 percentage points; local state-owned enterprises decreased by 0.3 percentage points, 4.8%. Statistics show that at the end of November, the asset liability ratio of state-owned enterprises was 64.4%, the same as that of the same period last year. Among them, 67.6% were central enterprises, the same as the same period last year; 62% were local state-owned enterprises, an increase of 0.1 percentage points. "Under the circumstances of great downward pressure on the economy, the leverage ratio of state-owned enterprises has remained stable, reflecting the role of a series of policies for supply side structural reform, especially the implementation of tax reduction and fee reduction, the increase of cash flow, the reduction of loan and debt issuance pressure, and the stable operation of enterprises. The good operation of state-owned enterprises shows that the downward pressure of the economy is controllable. " Bai Jingming said.