Chinese SOEs see increasing revenue, profits in Jan-May

BEIJING, June 24 (Xinhua) -- China's state-owned enterprises (SOEs) registered steady expansion in the first five months of the year, with both revenue and profits growing, official data showed on Monday.

These companies generated 32.85 trillion yuan (about 4.61 trillion U.S. dollars) in operating revenue in the January-May period, up 3.1 percent year on year, according to the Ministry of Finance.

Profits of these companies totaled 1.71 trillion yuan from January to May, with a year-on-year increase of 2.3 percent.

Their debt-to-asset ratio reached 64.9 percent at the end of May, the data showed.

These figures, which exclude financial firms, were collected from SOEs in provincial-level regions and those administered by the central government.