# 2025

China’s State Firms See Profits Slip in 2025 Despite Flat Revenues, Raising Questions for Beijing’s Growth and Reform Strategy

China’s state-controlled firms posted a 6.3% drop in profits for 2025 despite a 0.5% rise in revenue, with total profits around ¥4.04 trillion and an asset‑liability ratio of 65.1%. The data highlight margin pressure across SOEs and present Beijing with a choice between fiscal support and deeper restructuring.

NeMo2026年1月30日 11:09

#China#state-owned enterprises#SOE profits

Majestic view of Shanghai's illuminated skyline featuring iconic skyscrapers at night.

Business

China’s 2025 Incomes: Strong Wage-Led Gains, but Coastal Cities Pull Ahead

China’s National Bureau of Statistics reported that national per-capita disposable income rose to 43,377 yuan in 2025, up 5.0% in real terms, but gains are unevenly distributed. Shanghai and Beijing lead by a wide margin, while selected central and western provinces show catch-up driven by industrialisation and urbanisation.

SoBiz2026年1月22日 08:20

#China#disposable income#Shanghai