Profits at China's state-owned enterprises (SOEs) fell 63 percent year on year in the first four months of 2020, official data showed.
This came after a decline of 59.7 percent in the first quarter of the year, according to data from the Ministry of Finance.
Total profits at the SOEs stood at 412.01 billion yuan (57.79 billion U.S. dollars) during the January-April period.
SOEs have generated combined revenue of 17.03 trillion yuan during the period, down 9.2 percent from a year earlier, and its operating costs saw a 6.2-percent fall to 16.92 trillion yuan, the ministry said.
SOEs' debt-to-asset ratio edged up to 64.6 percent at the end of April, compared with 64.5 percent at the end of March.
