On May 29th, the Ministry of Finance released the economic performance of state-owned and state-controlled enterprises in China for the first four months of 2024. Data shows that from January to April this year, the total operating revenue of state-owned and state-controlled enterprises (hereinafter referred to as "state-owned enterprises") in China increased by 3.2%, and the total profit increased by 3.8%. "Based on the operational data of state-owned enterprises in the past four months, the overall trend is showing growth." Li Jin, Chief Researcher of China Enterprise Research Institute, told Securities Daily reporters. Specifically, in terms of total operating revenue, from January to April this year, the total operating revenue of state-owned enterprises was 26192.36 billion yuan, a year-on-year increase of 3.2%; In terms of total profit, from January to April this year, the total profit of state-owned enterprises was 1381.32 billion yuan, a year-on-year increase of 3.8%; In terms of taxes and fees payable, from January to April this year, state-owned enterprises were required to pay 2037.69 billion yuan in taxes and fees, a year-on-year increase of 0.9%. In terms of asset liability ratio, at the end of April, the asset liability ratio of state-owned enterprises was 64.9%, an increase of 0.1 percentage points. "Overall, in the first four months of this year, the main indicators of state-owned enterprises were in a healthy operating range, with positive growth in total operating income, total profit, and payable taxes and fees, reflecting the development resilience of state-owned enterprises. This is also a confidence guarantee for the national economy to continue to stabilize and improve." Song Xiangqing, Vice President of the China Society of Business Economics and Founder of the Huade List, said in an interview with Securities Daily. Hu Yu, Deputy Secretary General of Henan Business Economics Society and Associate Professor of Zhengzhou Engineering and Technology College, also told Securities Daily reporters that the total operating revenue and total profit of state-owned enterprises increased year-on-year in the first four months of this year, indicating that state-owned enterprises have maintained a positive development trend overall. The total profit increased by 3.8% year-on-year, slightly higher than the growth rate of total operating revenue, and also reflects the improvement of profitability. In addition, Song Xiangqing believes that the rate of increase in the asset liability ratio of state-owned enterprises has significantly slowed down, indicating that the debt level of state-owned enterprises is decreasing, the capital structure is optimizing, and the ability for independent development is gradually improving. Hu Yu believes that the increase in taxes and fees payable by state-owned enterprises in the first four months of this year also reflects the increased contribution of state-owned enterprises to national development. Looking forward to the development of state-owned enterprises in the future, Song Xiangqing believes that in the next step, enterprises should adhere to strengthening innovation drive, and at the same time, strengthen foreign economic and trade cooperation, especially strengthen the joint construction and sharing with the "the Belt and Road" countries, continue to promote high-level opening up, and explore the global high-end market. (Lai Xin She)
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