Hunan-based state-owned enterprises (SOEs) made a good start in operation efficiency this year. A first-quarter economic operation analysis conference for the SOEs supervised by the Hunan State-owned Assets Supervision and Administration Commission was held on April 20. According to the conference, in the first quarter, profits at Hunan-based SOEs rose by 310% year-on-year to 10 billion CNY, with a biennial growth of 48.8% on average.

During the first quarter, the SOEs in Hunan presented a rapid growth in both revenue and profits. The development quality has improved steadily. The operation revenue amounted to 190 billion CNY, with a year-on-year increase of 43.6% and biennial growth of 16.7%. The revenue of 34 SOEs under provincial supervision approached about 158 billion CNY, with a year-on-year growth of 44.6% and biennial growth of 14.4%. The profits at these 34 SOEs exceeded 7.8 billion CNY, increasing by 520% over last year and 28.6% biennially.

This year, Hunan-based SOEs have been oriented to the Three Highlands and Four New Missions Strategy, and given their priority to both reform and development. Three leading enterprises, including the Valin Group and the Hunan Construction Engineering Group, have achieved more than 10 billion CNY in revenue. The revenue growth rate of 27 enterprises exceeded 10%. Ten enterprises achieved profit of more than 100 million CNY, while 27 reported more than 10% growth in profit. 

 
This article is from Hunan Provincial Government www.enghunan.gov.cn.

Translator: Pang Yuehui

Chinese source: hunan.gov.cn