State-owned enterprises in China in the first half of the year increased profit by 21.1% compared to the same period last year to 1 trillion 720 billion yuan, the Ministry of Finance of the PRC reported. Revenues of state-owned companies reached 27 trillion 800 billion yuan, increased by 10.2%. Operating expenses increased by 9.5% to 26 trillion 700 billion yuan. The total volume of assets of SOEs at the end of June increased in annual terms by 9.4% to 171 trillion yuan. The volume of liabilities reached 111 trillion yuan, increased by 8.8%. In the first half of the year, the most significant profit increase was recorded in the steel, oil and petrochemical industries.
Foxconn: recent Reuters report on factory resumption in China, not factual12.02.2020
China can fortify stimulus if growth slows further amid virus spread, IMF says11.02.2020
Apple’s iPhone maker Foxconn reopens China plants amid virus outbreak11.02.2020
China GDP growth could decline by 1% amid coronavirus spread, says government researcher