BEIJING, May 22 (Xinhua) -- The total assets of Beijing's state-owned companies has exceeded 5 trillion yuan (723 billion U.S. dollars) by the end of 2018, local authorities said Wednesday.

It indicated that the capital city has accomplished the target of 4.7 trillion yuan of total assets of state-owned enterprises by 2020 ahead of schedule, according to the State-owned Assets Supervision and Administration Commission of People's Government of Beijing Municipality.

From January to April 2019, Beijing's state-owned enterprises generated nearly 496 billion yuan in revenue, up 11.3 percent year-on-year, with a profit of 30 billion yuan, increasing 23.8 percent year-on-year, according to the commission.

Operation revenue of state-owned enterprises of the city reached 1.6 trillion yuan last year, with a profit of 95 billion yuan, the commission said.