China State-Owned Assets in Central SOEs Grow to 2Tln Yuan

The state-owned assets in China’s centrally-administered state-owned enterprises (SOEs) reached 2.01 trillion yuan ($297.4 billion) as of June 30, up 10.71 percent.

The state-owned assets in China’s centrally-administered state-owned enterprises (SOEs) reached 2.01 trillion yuan ($297.4 billion) as of June 30, up 10.71 percent, or 194.75 billion yuan from 2008, the official Xinhua news agency reported Thursday, citing the State Property Management Commission of the State Council.

State-owned assets for each SOE rose 31.08 percent to 16.1 billion yuan.

SOEs with an asset of above 10 billion yuan account for 24 percent of the total by the end of June, while the figure in 2003 was only 13.27 percent, said the state-owned property regulator in a statement.

Six SOEs have state-owned assets over 100 billion yuan and only three SOEs have less than 100 million yuan in assets, the statement said.

30 central SOEs ranging from telecommunications and oil industry to auto industry and investment are listed as Fortune 500 companies.

In vital sectors concerning national security and economic lifelines, such as telecommunications, power generation, petro-chemicals, aviation, military and coal industries, the state-owned assets occupy an overwhelming proportion around 90 percent.