[Photo/Sipa]

Provincial State-owned enterprises in Shandong posted strong performance in the first half of this year, according to an announcement at a news conference held on July 22 by the Information Office of the Shandong Provincial People's Government.

By the end of June, the total assets of Shandong provincial State-owned enterprises were valued at 3.93 trillion yuan ($607.77 billion), up 9 percent and 16 percent, respectively, compared with the same period in 2020 and 2019.

In the first half of the year, the cumulative operating revenue of Shandong provincial State-owned enterprises reached 1 trillion yuan, up 33 percent from the same periods in 2020 and 2019.

Over this period, the total profits of Shandong provincial State-owned enterprises reached 51.2 billion yuan, up 76 percent and 25 percent compared with the same periods in 2020 and 2019, respectively.

Net profit reached 35.3 billion yuan, an increase of 93 percent and 24 percent compared with the same periods in 2020 and 2019, respectively.

In the first half of this year, fixed asset investment among Shandong provincial State-owned enterprises reached 64.2 billion yuan, an increase of 25 percent year-on-year and up 51 percent compared with the same period in 2019. Their research and development investment totaled 16.9 billion yuan, a year-on-year increase of 56 percent.

Shandong provincial State-owned enterprises achieved a gross labor product of 192.6 billion yuan, up 39 percent year-on-year.