Shenzhen-listed firms see steady performances

COMPANIES listed on the Shenzhen Stock Exchange recorded steady performances last year, data from the exchange showed.

The operating revenue of these firms totaled 18.3 trillion yuan (US$2.8 trillion) in 2021, up 23.4% year on year. The majority of revenue came from non-financial firms, which raked in 17.7 trillion yuan last year. The net profit of firms listed on the Shenzhen exchange reached 977.62 billion yuan last year, up 6.7% from a year earlier. In terms of sector-wise figures, companies in over 60% of all sectors saw profit growth, with those in upstream mining, manufacturing and modern services as frontrunners. The data was collected from the annual reports of 2,628 out of 2,635 Shenzhen-listed companies.

Over 90% of SOE reform action plan completed

THE country has completed over 90% of the major tasks of a three-year action plan to reform local State-owned enterprises (SOEs), according to a meeting.

The 2020-2022 action plan, which builds on decades of efforts to transform SOEs into competitive, modern enterprises, has led to all-out efforts by localities and numerous breakthroughs, according to a meeting held by the Leading Group for State-owned Enterprises Reform under the State Council.

Public offering fund volume hits ¥25.08 trillion

ASSETS under the management of China’s public offering funds reached 25.08 trillion yuan by the end of March, the latest data from the Asset Management Association of China showed.

The volume went down 4.78% from that at the end of February, according to the association, an industry body supervised by China’s securities regulator. The number of public offering funds increased from the end of February to 9,669, including 1,208 closed-ended funds and 8,461 open-ended funds.

Micro-credit firms down in number

CHINA had 6,232 micro-credit companies at the end of March, down from 6,453 registered at the end of last year, official data showed.

Their combined outstanding loans reached 933 billion yuan, a drop of 8.5 billion yuan from the previous quarter, according to the People’s Bank of China. Micro-lenders largely target small companies and low-income groups in need of capital. In recent years, China has tightened regulations for the sector to rein in financial risks.