Revenue of listed firms in China increases by 2 pct year on year in Q1

(ECNS) -- Data released by the China Association for Public Companies (CAPC) shows that in the first quarter of 2023, the revenue of listed companies in China reached 17.03 trillion yuan (about $2.47 trillion), increasing by 2.0 percent year on year.

Meanwhile, the net profit of these companies reached 1.60 trillion yuan, a year-on-year growth of 2.0 percent.

Listed companies in China have played an important role in ensuring tax revenue, promoting employment, and benefiting people’s livelihoods.

Data from the CAPC shows that these companies paid 4.79 trillion in tax during 2022, accounting for 28.7 percent of the total national tax revenue. A total of 3,413 listed companies, or 67 percent, implemented or announced an annual cash dividend plan last year, with a total cash dividend of 1.89 trillion yuan.

According to the CAPC, last year, listed companies in China invested 1.66 trillion yuan in research and development (R&D), 0.27 trillion yuan more than in 2021. The average R&D intensity of listed companies in China was 2.32 percent, up 0.25 percentage point year on year, and that of high-tech manufacturing companies and science and technology innovation board hit 6.71 percent and10.53 percent, respectively.

By the end of last year, the number of patents applied by listed companies in China had exceeded 1.4 million, an increase of more than 17 percent over the previous year. 

And data also shows that in 2022, listed companies in China engaged in the semiconductor sector realized a total revenue of 367 billion yuan, a year-on-year increase of 7 percent.

In addition, the annual revenue of these companies in digital industrialization increased by 8.9 percent, highlighting the strong demand for industrial digital transformation.

Experts said that the deepening of digital transformation would also help listed companies to reduce costs and improve efficiency, thus injecting a new driving force into high-quality economic development.