China tightens management of central SOEs overseas assets shanghaisun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shanghaisun.com Daily Mail and Mail on Sunday newspapers.
SOE reforms, revamp receive fresh impetus By ZHONG NAN | CHINA DAILY | Updated: 2021-01-20 08:59 Share CLOSE A China Railway employee checks Fuxing high-speed trains at a service yard in Jinan, Shandong province, in April. [Photo/Xinhua]
Govt to push contractual management system for executives at all levels
China plans to complete more than 70 percent of the tasks of its three-year (2020-22) action plan by the end of this year, further pushing forward the mixed-ownership reform and reorganization process in its State-owned enterprises, a senior government official said on Tuesday.
The government will improve the market-oriented operational mechanism and promote contractual management systems for executives at all levels of SOEs this year, said Peng Huagang, secretary-general of the State-owned Assets Supervision and Administration Commission of the State Council.
2021/01/19 16:11 BEIJING (AP) Profit at state-owned companies that dominate China’s banking, oil and most other industries rose by as much as 25% last year as the country recovered from the coronavirus pandemic, the government said Tuesday. Total revenue for national-level companies rose 2.2% over 2019 to 30.3 trillion yuan ($4.7 trillion), according to Peng Huagang, secretary general of the State-Owned Assets Supervision and Administration Commission. Speaking at a news conference, Peng said profit rose 2.1% to 1.4 trillion yuan ($215 billion). The ruling Communist Party has built up such “national champions” over the past two decades, but their monopolies and multibillion-dollar subsidies prompt complaints by the public that they are a waste of money and gouge consumers with high prices.
BEIJING, Jan. 19 (Xinhua) Net profits of China centrally-administered state-owned enterprises (SOEs) expanded 2.1 percent year on year in 2020 to 1.4 trillio
BEIJING, Jan. 19 (Xinhua) The debt-to-asset ratio of China centrally-administered state-owned enterprises (SOEs) continued to head downward in 2020, achievin