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China SOE's decreased in number but increased in profit

www.chinanews.cn 2005-01-14 13:45:42

Chinanews, Beijing, Jan. 13 (by Jia Quanxin) - Li Rongrong, director of
the State-owned Assets Supervision and Administration Commission (SASAC),
said today that China's adjustment of state-owned economic layout and
structure had made great progress, with benefits beginning to emerge. The
state-owned economy has reached a good situation in which the number of
state owned enterprises (SOE) dropped sharply while their profits soared.
According to Li, to date, the number of Chinese state-owned and
state-holding enterprises has dropped from 1998's 238,000 to 2003's
150,000, a decrease of 40%. Profits have surged from 21.37 billion yuan
to 495.12 billion yuan, an increase of 22.2 times. State-owned assets
have grown from 14.9 trillion yuan to 19.7 trillion yuan, and net assets
have risen from 5.21 trillion yuan to 8.36 trillion yuan.
Li also mentioned that as a whole, the distribution of state-owned
enterprises still covered a relatively wide range and the layout was not
the most reasonable. He urged that the country should accelerate the
adjustment of the layout and structure of the state-owned economy.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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