Chinese state-owned enterprises show improved asset quality and profitability post-reform.

Recent reforms and supervision have significantly improved the quality of China's state-owned enterprise (SOE) assets. By 2023, SOE assets, excluding the financial sector, totaled 371.9 trillion yuan ($51.72 trillion). The combined revenue of SOEs reached 85.6 trillion yuan in 2021, with total profits at 4.7 trillion yuan, nearly tripling since 2009. The report also suggests improvements to the entrusted agency mechanism for SOEs and state capital.