China News Service, June 29, according to the Ministry of Finance website, the Ministry of Finance announced on the 29th the economic operation of the state-owned and state-owned enterprises (hereinafter referred to as "state-owned enterprises") from January to May 2020. In May 2020, the profits of state-owned enterprises nationwide increased month-on-month, and have basically recovered to the level of the same period last year. From January to May, the year-on-year decrease in the main economic efficiency indicators narrowed, and the economic operation rebounded significantly. In May, the total profit of state-owned enterprises increased by 251.1% month-on-month, returning to 94.5% of the level of the same period last year. From January to May, the total profit was 663.09 billion yuan, a year-on-year decrease of 52.7%.
In May, the total operating income of state-owned enterprises increased by 4% month-on-month, returning to 98.6% of the same period last year. From January to May, total operating income was 21,838.81 billion yuan, a year-on-year decrease of 7.7%. Central enterprises were 12,582.75 billion yuan, down 8.6% year-on-year. Local state-owned enterprises amounted to 9256.06 billion yuan, a year-on-year decrease of 6.3%.
From January to May, the total operating cost of state-owned enterprises was 21612.62 billion yuan, a year-on-year decrease of 4.9%. Central enterprises were 12,192.71 billion yuan, a year-on-year decrease of 6.2%. Local state-owned enterprises amounted to 9419.91 billion yuan, a year-on-year decrease of 3.3%.
In May, the total profit of state-owned enterprises increased by 251.1% month-on-month, returning to 94.5% of the level of the same period last year. From January to May, the total profit was 663.09 billion yuan, a year-on-year decrease of 52.7%. Central enterprises were 528.54 billion yuan, a year-on-year decrease of 44.7%. Local state-owned enterprises amounted to 134.55 billion yuan, a year-on-year decrease of 69.8%.
In May, the net profit of state-owned enterprises increased by 415% sequentially. From January to May, after-tax net profit was 398.16 billion yuan, a year-on-year decrease of 61.6%. The net profit attributable to the parent company owner was 156.59 billion yuan. Central enterprises were 358.52 billion yuan, a year-on-year decrease of 49.6%. Local state-owned enterprises amounted to 39.64 billion yuan, a year-on-year decrease of 87.8%.
From January to May, state-owned enterprises paid taxes and fees of 1,746.47 billion yuan, a year-on-year decrease of 8.3%. Central enterprises were 1,278.84 billion yuan, a year-on-year decrease of 7.5%. Local state-owned enterprises amounted to 467.63 billion yuan, a year-on-year decrease of 10.5%.
From January to May, the cost-profit margin of state-owned enterprises was 3.1%, a decrease of 3.1 percentage points. Central enterprises were 4.4%, down 3.0%. Local state-owned enterprises were 1.4%, a drop of 3.2%.
At the end of May, the asset-liability ratio of state-owned enterprises was 64.6%, an increase of 0.4 percentage points. Central enterprises were 67.6%, an increase of 0.1%. Local state-owned enterprises were 62.5%, an increase of 0.6 percentage points.