Net profits of China's centrally owned state firms up 29.8% y/y in 2021

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The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter

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BEIJING, Jan 19 (Reuters) - Overall net profits of China's central government-owned state firms rose 29.8% year-on-year to 1.8 trillion yuan ($283.56 billion) in 2021, according to a statement from the state assets regulator on Wednesday, higher than a 2.1% growth in 2020.

The overall revenue of central government-owned state firms grew 19.5% from a year earlier to 36.3 trillion yuan in 2021, the State-owned Assets Supervision and Administration Commission also said.

($1 = 6.3479 Chinese yuan renminbi)

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Reporting by Liangping Gao and Ryan Woo; Editing by Muralikumar Anantharaman

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