From January to March 2019, the main economic indicators of state-owned and state-controlled enterprises① (hereinafter referred to as state-owned enterprises) across the country continued to maintain the growth trend.

I. Main economic indicators of state-owned enterprises
(A) total operating income. 1-March, the total operating income of state-owned enterprises 139943.1 billion yuan, year-on-year ② (the same below) increased by 8.9%. (1) central enterprises 8233.87 billion yuan, up 6.9%. (2) local state-owned enterprises 5,760.4 billion yuan, up 11.9%.

(B) Total operating costs: From January to March, the total operating costs of state-owned enterprises amounted to RMB 1,352,108.0 billion, up 9.2% year-on-year, of which the selling expenses, management expenses, R&D expenses and financial expenses increased by 3.4%, 12.6%, 23.3% and 11.5% year-on-year respectively. (1) Central enterprises 7,816.10 billion yuan, an increase of 7.0% year-on-year, of which selling expenses, management expenses, R&D expenses and finance costs decreased by 2.2%, increased by 14.9%, increased by 17.4% and increased by 10.2% year-on-year, respectively. (2) Local state-owned enterprises amounted to 570.47 billion yuan, up 12.4% year-on-year, of which selling expenses, management expenses, R&D expenses and financial expenses increased by 11.3%, 10.1%, 37.8% and 12.7% year-on-year, respectively.

(C) Total profit. from January to March, total profit of state-owned enterprises amounted to RMB819.77 billion, up 15.6% year-on-year. (1) Central enterprises 581.44 billion yuan, up 17.9%. (2) Local state-owned enterprises 238.33 billion yuan, up 10.4% year-on-year.

(d) Net profit after tax: From January to March, the net profit after tax of state-owned enterprises amounted to 603.56 billion yuan, an increase of 18.6%, and the net profit attributable to owners of the parent company amounted to 380.03 billion yuan. (1) Central enterprises 435.43 billion yuan, up 22.4%, net profit attributable to owners of the parent company 294.12 billion yuan. (2) Local state-owned enterprises 168.13 billion yuan, up 10.0% year-on-year, with a net profit attributable to owners of the parent company of 85.91 billion yuan.

(E) Taxes payable. from January to March, state-owned enterprises paid 1208.54 billion yuan in taxes, up 3.5% year-on-year. (1) Central enterprises 893.51 billion yuan, up 4.3%. (2) Local state-owned enterprises 315.03 billion yuan, up 1.3% year-on-year.

(F) assets, liabilities and owners' equity. at the end of March, total assets of state-owned enterprises amounted to 19,026,696,200,000,000 yuan, up 9.0% year-on-year; total liabilities amounted to 1,225,705,500,000,000 yuan, up 8.8% year-on-year; and total owners' equity amounted to 676,990,000,000 yuan, up 9.3% year-on-year. (1) Central enterprises total assets of 823,204,300,000,000 yuan, up 7.7%; total liabilities of 556,499,000,000 yuan, up 7.6%; total owners' equity of 266,704,000,000 yuan, up 8.1%. (2) local state-owned enterprises total assets of 1,079,491.9 billion yuan, an increase of 10.0%; total liabilities of 669,205.9 billion yuan, an increase of 9.9%; total ownership interest of 410,286.0 billion yuan, an increase of 10.2%.

(VII) cost and expense margin. 1-3 months, state-owned enterprises cost and expense margin of 6.1%, an increase of 0.3 percentage points. (1) Central enterprises 7.6%, up 0.7 percentage points. (2) 4.2% for local state-owned enterprises, down 0.1 percentage point.

(viii) Asset-liability ratio: At the end of March, the asset-liability ratio of state-owned enterprises was 64.4%, down 0.1 percentage point. (1) Central enterprises 67.6%, down 0.1 percentage points. (2) Local state-owned enterprises 62.0%, down 0.1 percentage points.

Profitability of major industries
From January to March, the profits of petroleum, transportation and warehousing industries grew faster.

Note: ① This month's report referred to the national state-owned and state-controlled enterprises, including the SASAC supervision of the central enterprises, central departments and units of the enterprises and 36 provinces (autonomous regions, municipalities, municipalities directly under the central government, municipalities with plans) of the local state-owned and state-controlled enterprises, excluding state-owned financial enterprises.

② due to changes in the increase or decrease of enterprises, as well as changes in equity and other objective factors, different periods included in the national state-owned and state-controlled enterprises within the scope of the summary of the enterprise is not exactly the same. The year-on-year growth data of this month's report is calculated by comparing the current year's data of the enterprises within the scope of the current period and the data of the same caliber for the same period of the previous year.