China's Central SOEs Report Growth in January

Sinopec employees charge a vehicle with hydrogen in Qingdao, Shandong province. [Photo by Yu Fangping/For China Daily]

China's centrally-administered state-owned enterprises (SOEs) saw double-digit revenues and profit growth in the first month of this year, showed official data on Feb 14.

Net profits of central SOEs expanded by 10.2 percent from a year ago to 142.38 billion yuan ($22.36 billion) in January, said the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.

The central SOEs raked in 3 trillion yuan in combined revenues in the first month of 2022, an increase of 12.4 percent year-on-year, according to the SASAC.