Ningxia state-owned enterprises register broad-based growth in core indicators in first half of 2026

According to China News Service, state-owned enterprises supervised by Ningxia’s state assets regulator delivered steady operational growth across all major financial indicators in the first half of 2026, with key revenue, profit, tax payment and asset metrics all recording year-on-year increases.

In the first six months of the year, these enterprises achieved operating revenue of 67.987 billion yuan, total profits of 5.279 billion yuan, paid taxes of 10.621 billion yuan and industrial added value of 36.798 billion yuan, rising by 1.9 per cent, 8.6 per cent, 22.4 per cent and 4.5 per cent respectively compared with the same period last year. By the end of June, total assets stood at 737.643 billion yuan and net assets reached 352.401 billion yuan, representing annual growth of 3.3 per cent and 2.1 per cent. The consistent expansion of asset scale and profitability underpins the stable development of the regional state-owned economy.

Five key provincial state-owned enterprises posted differentiated yet robust business growth during the period. Ningxia State-owned Capital Operation Group, Ningxia Tourism Investment Group and Ningxia Agricultural Reclamation Group lifted operating revenue by 14.3 per cent, 61.9 per cent and 27.9 per cent year on year. Multiple enterprises recorded notable profit improvements. Ningxia Transport Construction Investment Group, Ningxia Agricultural Reclamation Group, Ningxia Tourism Investment Group and Digital Ningxia Construction and Operation Company achieved profit growth of 38.9 per cent, 24.8 per cent, 15.5 per cent and 17.5 per cent respectively, delivering solid support for regional economic development.

Fixed-asset investment by regulated state-owned enterprises maintained stable progress in the first half of the year, totalling 18.33 billion yuan with a 41.4 per cent completion rate against the annual plan. Enterprises directly supervised by Ningxia’s state assets regulator contributed 12.24 billion yuan of the total investment, accounting for 66.7 per cent of overall spending. A batch of key infrastructure and industrial projects have achieved phased construction milestones. The main works including subgrade construction of the Yinchuan-Baoji Railway branch line have been completed, with long-track laying operations launched for the Inner Mongolia section. The dedicated railway line for Zhongwei Thermal Power officially opened on 30 June, further optimising the regional coal transportation corridor for cross-border energy supply.

Urban renewal and cultural tourism projects have also advanced steadily. The main structural construction of the scattered urban village renovation project in southern Xingqing District of Yinchuan has been fully completed. Preparatory work for the Zhongwei Desert Cultural Tourism Complex undertaken by Ningxia Tourism Investment Group has been finished, with official construction scheduled to start in July.

Ningxia’s state assets authority has carried out benchmarking upgrades with advanced provincial-level counterparts including Anhui, Hubei and Zhejiang, and organised multiple industrial supply and demand docking events jointly with local industry and commerce authorities. Industrial restructuring and enterprise optimisation continue to move forward. Risk relief work for Northwest Bearing proceeds in an orderly manner, while Baota Industry expands its business footprint in new energy power generation and energy storage sectors, achieving phased results in industrial transformation and upgrading.

Further reforms and structural optimisation will be advanced for state-owned assets and enterprises in the second half of the year. Local authorities will strengthen real-time economic operation analysis, intensify efforts to turn loss-making enterprises to profitability, and refine the layout of state-owned capital across key industrial sectors. Targeted operational adjustments and refined management will be implemented to ensure the full completion of annual development targets and sustain the high-quality growth momentum of the regional state-owned economy.