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China's SOE hit record profit in 2018 [Copy link] 中文

Rank: 4

Post time 2019-1-17 14:36:26 |Display all floors

China's state-owned enterprise (SOE) watchdog, State-owned Assets Supervision and Administration Commission (SASAC), held a press conference on Thursday.

The country's SOEs reached a record profit of 1.7 trillion yuan, a 16.7 percent increase from last year, Peng Huagang, deputy secretary-general and spokesperson of SASAC, said Thursday.

Fixed assets investment of SOEs reached 2.5 trillion yuan, a 4.9 percent rise from last year. Those enterprises have generated revenues of 29.1 trillion yuan in 2018.

By the end of 2018, the average asset-liability ratio of central enterprises was 65.7 percent, down 0.6 percent from the beginning of the year. The "zombie enterprises" had a yearly deficit reduction of 37.3 billion yuan.

China is trying to spur SOEs through a series of reforms, moving toward mixed ownership and market-oriented management. The country launched a series of reforms including changing the share-holding structure. The number of state-owned capital operating companies expanded to 21 in the "central enterprises," 11 more from last year, 19 of which are investment companies.

The plan to transfer part of state-owned capital to fortify social security funds was implemented steadily. The equity transfer of 18 "central enterprises" were completed, the transfer scale reaching 75 billion yuan. 42 poverty-striken counties were successfully lifted out of poverty.

The "central enterprises" received 98 national science and technology awards at the National Science and Technology Awards Conference in 2018, accounting for 40.8 percent of the total number of awards.


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Rank: 8Rank: 8

Post time 2019-1-17 21:30:43 |Display all floors
Shows that cost cutting with full determination is best solution.
Do not waste! Profit surfaces automatically!
SIMPLE ARITHMETIC!

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Rank: 6Rank: 6

Post time 2019-1-20 05:18:24 |Display all floors
SOE-the most fundamental part of the economy.

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Rank: 8Rank: 8

2015 Most Popular Member Medal

Post time 2019-1-22 23:36:45 |Display all floors
China is making socialism work.
The state will use money to build more roads, bridges, railways, dams, and hospitals - among other public facilities.
Private enterprise uses their money only for themselves.
If capitalism promotes innovation and creativity then why aren't scientists and artists the richest people in a capitalist nation?

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Medal of honor

Post time 2019-1-23 03:25:30 |Display all floors
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Medal of honor

Post time 2019-1-23 03:25:52 |Display all floors
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Medal of honor

Post time 2019-1-23 03:26:16 |Display all floors
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