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Moody’s says to expect uneven recovery among Chinese SOEs across sectors, regions

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Unsurprising conclusions from analysts at the rating agency:

  • SOEs’ first quarter financials indicate vast improvements from 2020, with both revenue and profit before taxation rising from low levels
  • SOEs in sectors like construction, steel and chemicals will benefit from strong revenue growth, as will those in economically stronger regions

A little more, again unsurprising:

  • companies in construction, steel and chemicals benefiting from strong revenue growth as China’s economy recovers, while those in tourism and hospitality will take longer to recover to pre-pandemic levels. 

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