China's centrally administered SOEs posted continued growth in profits in the first three quarters of the year, booking 1.35 trillion yuan ($195.2 billion) and up 21.5 percent in the period, the State asset watchdog said on Monday.
The better result was achieved amid a tighter external environment and is a result of deepening reforms, an official of the State-owned Assets Supervision and Administration Commission (SASAC) told a press briefing.
Central SOEs posted better revenues in the first three quarters of this year, increasing 11 percent year-on-year and 0.9 percent faster than that of the first half year-on-year.
Over one-third of central SOEs have seen their profitability increase by over 20 percent, a rare case seen from historic records, said Peng Huagang, a senior official at the SASAC.
In a sign of higher quality growth, the debt-to-asset ratio for central SOEs dipped slightly to 66 pct by the end of September, down by 0.3 percentage points compared with that of the beginning of last year.
The result comes as supply-side structural reforms deepen and SOE reform sails into deeper water, according to Peng.
