Ministry of Finance: Total operating revenue of state-owned enterprises increased by 0.2% year-on-year in January-February.

Economic Performance of National State-Owned and State-Holding Enterprises Across the Country in January–February 2026

In January–February, national state-owned and state-holding enterprises① (hereinafter referred to as state-owned enterprises) recorded total operating revenue year over year up by 0.2%, while total profit decreased by 2.0% year over year.

I. Total operating revenue. In January–February, state-owned enterprises’ total operating revenue reached 125655.0 billion yuan, up 0.2% year over year.

II. Total profit. In January–February, state-owned enterprises’ total profit amounted to 6266.2 billion yuan, down 2.0% year over year.

III. Taxes payable. In January–February, state-owned enterprises’ taxes payable were 10932.5 billion yuan, down 2.3% year over year.

IV. Asset-liability ratio. As of the end of February, state-owned enterprises’ asset-liability ratio was 65.4%, up 0.5 percentage points year over year.

① In this monthly report, the term “national state-owned and state-holding enterprises” includes: central enterprises, enterprises and units subordinate to central departments, and units under the responsibility of the investor under the Ministry of Finance and the State-owned Assets Supervision and Administration Commission of the State Council; as well as state-owned and state-holding enterprises in 36 provinces (autonomous regions and centrally administered municipalities, and separate-plan cities), and state-owned and state-holding enterprises under the Xinjiang Production and Construction Corps. It does not include state-owned primary financial enterprises and their subsidiaries. Industries included are agriculture, forestry, animal husbandry and fishery; manufacturing/industry; construction; transportation and warehousing; postal and telecommunications services; wholesale and retail; real estate; information technology services; and other industries.

② Due to objective factors such as changes in enterprises’ growth or contraction and changes in equity, the enterprises included within the aggregation scope of national state-owned and state-holding enterprises are not completely identical across different periods. The year-over-year growth data relevant to this monthly report is calculated by comparing the current year’s data of enterprises within the aggregation scope for this period with the comparable period last year’s data on the same basis.

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Responsible: Liu Wanli SF014