China’s Q1 central SOEs investment posts rapid growth

Askar Yakubov · 11:53, 17.04.2021 · Updated 00:35 · 659 views

Tashkent, Uzbekistan (UzDaily.uz) -- China’s centrally-administered state-owned enterprises (SOEs) invested 497.89 billion yuan (about 76.25 billion U.S. dollars) in fixed assets in the first three months. It is up 36.5 percent from a year ago, according to official data on Friday, Xinhua reported.

In March alone, central SOEs invested 191.44 billion yuan. It is an increase of 12.9 percent year on year, the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council told a press conference.

During the January-March period, fixed-asset investment of power generation companies surged by 79.4 percent year on year to 109.64 billion yuan. That of power grid SOEs grew by 47.9 percent from the same period of last year to 79.73 billion yuan, according to the SASAC.

Data also showed the overall solvency of central SOEs remained stable in the first quarter. By the end of March, the average debt-to-asset ratio of central SOEs stood at 64.7 percent, down by 0.8 percentage points from a year earlier.

Askar Yakubov

Askar Yakubov is a professional photojournalist with extensive experience in news and reportage photography. He specializes in fast-paced coverage of social, political, cultural, international, business, and community events, with a sharp eye for capturing expressive shots and conveying the atmosphere of an event under tight time constraints. His skill set spans reportage, portrait, and documentary photography, along with image editing and color correction, and preparing photo materials for media and digital platforms. He is known for his professionalism, adherence to editorial standards, and ability to work both independently and as part of a shooting team.