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    QINGDAO TODAY
    在线翻译:
    szdaily -> China -> 
    Central SOEs report strong profit growth in 1st 2 months
        2019-03-11  08:53    Shenzhen Daily

    THE country’s centrally administered State-owned enterprises (SOEs) saw strong revenue and profit growth in the first two months of 2019, Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission, said Saturday.

    Their operation revenues grew by 3.9 percent year on year, while profits surged by 15.3 percent, Xiao told a news conference on the sidelines of the annual legislative session.

    Xiao also said China will expand the mixed ownership reform to more than 100 SOEs.

    “There will be more than 100 SOEs in the fourth batch of mixed ownership reform, which will be pushed ahead in key areas,” Xiao said.

    Since 2016, China has selected 50 SOEs in three batches to conduct the pilot reform in fields including power, energy, civil aviation, telecommunications and defense.

    The first three batches have done a good job in exploring and experimenting with the means, equity ratio and governance structure of mixed ownership, Xiao said.

    Next, China will create a sound environment for the reform so that enterprises of all kinds of ownership can realize integrated and common development, he added.

    Xiao also noted that SOEs are willing to see fewer trade frictions, and they will follow market rules to better promote trade globalization, opening up and cooperation.

    A better trade environment between China and the United States is expected, so that enterprises can operate and develop better. This is the hope of both China’s SOEs and overseas enterprises, Xiao said.

    “China’s SOEs maintain benign partnerships with enterprises under all types of ownership, as well as foreign enterprises. Cooperation helps China’s SOEs in further deepening reform, improving development quality and enhancing management. This is a win-win situation that we look for,” Xiao said.

    He noted that in the next step, SOEs will open wider to the outside to establish a stronger market player status. “The development process is market-oriented and internationalized,” he said.

    Xiao also told the press that projects undertaken by SOEs under the Belt and Road Initiative (BRI) have been faring well and are playing increasingly important roles.

    The BRI is welcomed by a growing number of countries and regions as BRI projects have helped create jobs and develop local economies, Xiao said.

    Xiao said it is required by the commission that SOEs should abide by internationally accepted rules as well as local laws and regulations in BRI projects, to ensure the quality, sustainability and long-term profitability of the projects.

    (Xinhua)

    深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
    Shenzhen Daily E-mail:[email protected]

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