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State-owned enterprises in Hainan expected to increase their revenues by 25% in 2022

State-owned enterprises in Hainan plan to launch 242 projects with a total investment of $17.2 billion

HAIKOU /China/, February 3. /TASS/. The total revenue of key state-owned enterprises in the southern Chinese province of Hainan should grow by about a quarter in annual terms to 75 billion yuan ($11.7 billion) in 2022. The forecast of the provincial State-owned Assets Supervision and Administration Commission of the State Council is published by the Hainan International Communication Network (HICN).

Net profit is expected to reach about 4 billion yuan (627.9 million yuan) this year - an increase of about 30%. In 2022, state enterprises in Hainan plan to launch 242 projects with a total investment of 109.83 billion yuan ($ 17.2 billion). Up to 23.5 billion yuan ($3.6 billion) will be allocated annually for their implementation.

"In 2022, our work will focus on deepening the reform of state assets and state-owned enterprises, adjusting and optimizing their allocation structure, and improving the management structure of enterprises so that state assets and state-owned enterprises become better and stronger," Mai Zhenghua, deputy head of Hainan's State-owned Assets Supervision and Administration Commission, quoted as saying.

According to official data, the combined assets of state-owned enterprises in Hainan reached 862.6 billion yuan ($135.4 billion) by the end of December 2021. The growth of the corresponding figure in annual terms was 18.4%.

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