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According to official data released by the Ministry of Finance, state-owned enterprises (SOEs) in China maintained steady operations in the first four months of the year. The SOEs reported an increase in total revenue and profits, with operating revenue reaching over 26.19 trillion yuan ($3.6 trillion), a 3.2 percent increase from the previous year. The combined profits of the SOEs also increased by 3.8 percent to more than 1.38 trillion yuan ($190.5 billion). The debt-to-asset ratio of the SOEs reached 64.9 percent at the end of April, a slight increase from the previous year. These figures were collected from SOEs in provincial-level regions and those administered by the Central Government, excluding financial firms. [Extracted from the article]

According to an article in Beijing Review, China's foreign trade from January to November showed a total of 37.96 trillion yuan, with imports at 21.6 trillion yuan (up 0.3%) and exports at 16.36 trillion yuan (down 0.5%). The article also highlights the increase in exports of major products such as mechanical products, automatic data processing equipment, and mobile phones, while automobile exports saw a significant increase of 79.6%. In terms of imports, mechanical products were prominent. Private enterprises accounted for 6.1% of China's foreign trade during this period, while state-owned enterprises and foreign-funded enterprises saw decreases of 0.8% and 9.0% respectively. China's top four trading partners were the Association of Southeast Asian Nations (ASEAN), the European Union, the United States, and Japan. [Extracted from the article]

The National Development and Reform Commission (NDRC) in China has announced plans to introduce measures to support the development of the private sector. The NDRC aims to establish legislation that promotes the equal status of state-owned enterprises and private businesses. They will also work to ensure the implementation of policies that support the private sector, encourage private investment in significant projects, and support private companies in research and development. The NDRC is committed to addressing the concerns of private firm owners and creating a favorable environment for the growth of the private sector, where entrepreneurship is valued and respected. [Extracted from the article]

Assets under the management of public offering funds totaled 28.8 trillion yuan ($3.95 trillion) as of late July, data from the Asset Management Association of China showed. SOE Revenue State-owned enterprises (SOEs) and state-holding enterprises saw their revenues and profits grow in the first seven months of 2023, the Ministry of Finance said on August 29. BYD Acquisition China's leading new-energy vehicle manufacturer BYD said on August 28 that its holding subsidiary has inked an acquisition framework agreement with the Singaporean subsidiary of United States-based firm Jabil Inc. to buy its manufacturing business in the Chinese cities of Wuxi, Jiangsu Province in east China, and Chengdu, Sichuan Province in southwest China, for 15.8 billion yuan ($2.2 billion). [Extracted from the article]

Local governments can use these funds for disaster relief, emergency response, the relocation of residents, screening flood-related hazards and restoring damaged homes, the authorities said. Chinese authorities earmarked an additional 350 million yuan ($48.5 million) on August 6 to assist flood-hit regions of Beijing and Tianjin municipalities and their surrounding Hebei Province, as well as provinces in northeast China. Insurance companies also accelerated compensation payments in 16 flood-hit regions. [Extracted from the article]

About 3,000 small and medium-sized enterprises (SMEs) will receive additional support this year to improve industrial chain resilience and economic vitality. Additional policies will target any monopolistic behavior that excludes or limits the participation of SMEs in fair market competition, crack down on unfair competition practices and steer financial institutions toward unceased support for SMEs. Luosifen firms are a prime example of private companies invigorating the Chinese market. [Extracted from the article]

The pandemic has most affected Chinese-funded businesses in the consumer services and property sectors in the U.S., while financial and telecommunication enterprises were only slightly affected, and healthcare companies have made progress. During his icebreaking visit to China in 1972, U.S. President Richard Nixon was invited by Chinese leaders to recommend the best American enterprises from 10 sectors to drive economic exchanges between the two countries. In addition to state-owned enterprises such as COSCO Shipping Corp. Ltd. and Air China, private Chinese firms have also gained a footing in the U.S. market. [Extracted from the article]

Exports of major products Mechanical products % of China's exports in the period 59% Labor-intensive products % of China's exports in the period 18.2% Imports of commodities Imports and exports Private enterprises % of China's foreign trade in the period 48.5% State-owned enterprises 5.39 tln yuan Foreign-funded enterprises China's top four trading partners Association of Southeast Asian Nations (Source: General Administration of Customs of China) ($1=6.38 yuan) China's Foreign Trade in January-November (All changes are y.o.y.). [Extracted from the article]

Revenue Profits Total Total Up 26.6% 2.79 tln yuan Up 92.1% 41.44 tln yuan Of centrally administered SOEs Of centrally administered SOEs Up 88.8% Up 24.9% 1.85 tln yuan 23.27 tln yuan Of local SOEs Of local SOEs Up 28.9% Up 100% 931 bln yuan 18.16 tln yuan Debt-to-asset ratio Taxes and fees Down 0.2 percentage point Total Average 3.1 tln yuan Up 21.9% 64.3% Of centrally administered SOEs Of centrally administered SOEs 2.1 tln yuan Up 18.6% 66.9% Of local SOEs Of local SOEs Up 29.9% 945.98 bln yuan 62.6% 100 0 (Source: Ministry of Finance) GRAPH: NUMBERS GRAPH: NUMBERS GRAPH: NUMBERS GRAPH: NUMBERS ($1=6.5 yuan) Performance of State-Owned Enterprises (SOEs) in January-July (All growth rates are y.o.y.). [Extracted from the article]