China’s SOEs Grew Almost Twice as Fast as Economy in 2021

Total assets of Chinese state-owned enterprises (SOEs) excluding the financial sector increased 15% to 308.3 trillion yuan ($43.76 trillion) in 2021, indicating steady growth despite the effects of Covid-19 on the economy.

Total liabilities of nonfinancial SOEs reached 197.9 trillion yuan last year, 15.4% higher than in the previous year, according to the State Council, China’s cabinet. The data were in an annual report on state-owned asset management submitted to the Standing Committee of the National People’s Congress, the country's top legislature.