A worker inspects a vehicle before it rolls off the production line at an automobile manufacturing factory in Qingdao, east of China's Shandong province, Jan 14, 2023. In 2022, China's state-owned enterprises' SOEs' net profits increased 35.71 percent to 1.9 trillion yuan, a rise of 35.71 percent from that of 2020, according to official data. The PHOTO XINHUA BEIJING Net profits at China's centrally managed state-owned enterprises SOEs rose 35.71 percent to 1.9 trillion yuan in 2022 from the 2020 figure, according to official data.
According to the country's SOE regulators, the operating revenues of China's centrally managed SOEs increased by 30.03 percent from 2020 to 39.4 trillion yuan in 2022.
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In the past three years, net profits and revenues of centrally managed SOEs grew at a fast pace, as they grew 5.5 percent year on year, and revenues increased 8.3 percent year on year, respectively, in 2022.
China has a mobilization order for deepening this reform after it implemented a three-year action plan for SOE reform in 2020. China's SOEs balanced COVID 19 response with effective production and introduced a series of reforms thanks to the 2020 -- 2022 action plan.
The action plan has led to all-out efforts and numerous breakthroughs in key areas, including optimizing the modern enterprise system and the market-oriented operation mechanism.
A total of 99 Chinese SOEs were included in the 2022 Fortune Global 500 List.