Related News
Central SOEs cut legal entities
CHINA’S centrally administered state-owned enterprises cut 2,730 subsidiary legal entities last year, a senior official said yesterday.
The central SOEs posted a narrower yearly loss and reduced management costs in 2016, said Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission of the State Council.
These companies reduced loss and management costs by 4.39 billion yuan (US$640 million) and 4.91 billion yuan respectively, Xiao said.
Major problems with the bloated centrally administered SOEs include weakness in core business, too many sideline businesses, low efficiency and excessive layers of administration and management.
The excessive layers of hierarchy persisting in the centrally administered SOEs are also part of the reason the reform has not been easy to push through over the years.
Mixed-ownership reform is expected to help make breakthroughs in the reform and authorities will take substantial steps to reform the electricity, oil, natural gas, railway, civil aviation, telecommunications and military industries, said Xiao.
China has 102 central SOEs, which manage the bulk of the country’s state assets.
These companies saw their combined profit and revenue both return to growth in 2016. Total profit climbed 0.5 percent year on year to 1.23 trillion yuan, while revenue increased 2.6 percent to 23.4 trillion yuan, according to official data.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.