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Building material SOE eyes bigger role in high-end sectors

China National Building Material Group Co Ltd, or CNBM, a centrally administered State-owned enterprise, will focus on supplying high-end building and industrial materials to reinforce China's role in the world's supply chain during the 14th Five-Year Plan period (2021-25), the group's top executive said. ....

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Central SOEs bask in H1 profit glory

Central SOEs bask in H1 profit glory
By ZHONG NAN in Beijing and LIU MINGTAI in Changchun |
CHINA DAILY |
Updated: 2021-07-15 07:12
A high-speed train production line of China Railway Rolling Stock Corp in Qingdao, Shandong province. [Photo/Xinhua]
For the first time in history, half-yearly net profits of centrally administered State-owned enterprises, or central SOEs, exceeded 1 trillion yuan ($155 billion) in the first half of this year.
Net profits soared by 133.3 percent year-on-year to 1.02 trillion yuan on combined revenues of 17.1 trillion yuan, up 28.2 percent year-on-year, data from the State Council s State-owned Assets Supervision and Administration Commission, or SASAC, showed late on Tuesday. ....

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Fund to spur mixed-ownership reforms

Fund to spur mixed-ownership reforms
By LIU ZHIHUA/ZHONG NAN |
China Daily |
Updated: 2020-12-11 09:27
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An employee works on the production line of a State-owned machinery company in Zhangjiakou, Hebei province. [Photo by CHEN XIAODONG/FOR CHINA DAILY]
China is establishing a 70.7 billion yuan ($10.8 billion) fund to facilitate mixed-ownership reforms of its State-owned enterprises.
Chengtong Holdings Group Ltd, an investment company of the State Council s State-owned Assets Supervision and Administration Commission, will jointly establish the fund with several central and local SOEs, including Shanghai International Port (Group) Co Ltd and China COSCO Shipping Co Ltd, said an SIPG announcement on Wednesday. ....

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Fund to spur mixed-ownership reforms--China Economic Net

China is establishing a 70.7 billion yuan ($10.8 billion) fund to facilitate mixed-ownership reforms of its State-owned enterprises.
Chengtong Holdings Group Ltd, an investment company of the State Council s State-owned Assets Supervision and Administration Commission, will jointly establish the fund with several central and local SOEs, including Shanghai International Port (Group) Co Ltd and China COSCO Shipping Co Ltd, said an SIPG announcement on Wednesday.
The company administering the fund will be registered in the Lingang Special Area of China (Shanghai) Pilot Free Trade Zone and will mostly invest in the mixed-ownership reform projects of SOEs, and equity investments projects of State firms in the private sector. ....

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