Value of China's State-owned assets stable in 2023

BEIJING - The value of China's State-owned assets remained stable last year, official data showed Tuesday.

The assets of State-owned enterprises (SOEs) totaled 371.9 trillion yuan ($52.37 trillion) at the end of 2023, according to a State Council report submitted for deliberation at an ongoing session of the National People's Congress Standing Committee.

The assets of financial SOEs stood at 445.1 trillion yuan at the end of last year, and State-owned assets in administrative departments and public institutions came in at 64.2 trillion yuan.

China will continue to deepen SOE reforms, strengthen the financial capital's ability in serving economic development, and improve the management of State-owned assets in administrative departments and public institutions, the report said.