Biz China Weekly: SOEs' profit, forex market, sharing economy, lottery sales

Source: Xinhua| 2021-02-28 10:21:24|Editor: huaxia

BEIJING, Feb. 28 (Xinhua) -- The following are the highlights of China's business news from the past week:

SOE PROFITS

China's centrally administered state-owned enterprises (SOEs) saw their net profit up 2.1 percent in 2020 to 1.4 trillion yuan (about 217 billion U.S. dollars) in 2020 despite the impact of the COVID-19 epidemic, according to the country's top state assets regulator.

By the end of last year, the debt-to-asset ratio of the central SOEs had dropped to 64.5 percent.

FOREX MARKET TURNOVER

China's foreign exchange (forex) market recorded a turnover of 18.46 trillion yuan in January, data from the State Administration of Foreign Exchange showed.

The figure was down from 22.64 trillion yuan in December 2020.

Specifically, the turnover of forex transactions between banks and their clients totaled 3.11 trillion yuan last month.

SHARING ECONOMY

China's sharing economy demonstrated remarkable resilience and potential in 2020 amid the COVID-19 epidemic, with its market turnover up around 2.9 percent year on year, a report from the State Information Center showed.

The total turnover of the market stood at around 3.38 trillion yuan last year, according to the report on the development of China's sharing economy.

In breakdown, the sharing economy in the areas of knowledge and skill as well as health care saw substantial market expansion, with the size of the market growing 30.9 percent and 27.8 percent year on year, respectively.

LOTTERY SALES

China's lottery sales came in at 35.75 billion yuan in January, up 31.4 percent from the same period last year, data from the Ministry of Finance showed.

Sales of welfare lottery tickets gained 18 percent year on year to about 15.21 billion yuan last month, while sports lottery sales jumped by 43.5 percent to about 20.54 billion yuan, the ministry said.

China's lottery sales came in at 333.95 billion yuan in 2020, down 20.9 percent year on year. Enditem

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