China's SOEs reported a 5.9% profit growth in 2024, reaching about $361.7 billion.

China's central state-owned enterprises (SOEs) reported a steady profit growth in 2024, reaching 2.6 trillion yuan (about $361.7 billion), with total assets surpassing 90 trillion yuan, a 5.9% increase year-on-year. Fixed-asset investments rose 3.9% to 5.3 trillion yuan, and strategic emerging industries saw a 21.8% investment increase. SOEs also spent 1.1 trillion yuan on research and development, surpassing a trillion for the third year.

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