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China's central SOEs donate $565m for quake zone

(Xinhua)
Updated: 2008-07-04 17:00

China's central state-owned enterprises (SOEs) had donated 3.88 billion yuan ($565.3 million) and relief materials valued at 2.07 billion yuan by the end of June, said the industry watchdog on Friday.

Liu Nanchang, deputy director general of the bureau of performance assessment of the State-owned Assets Supervision and Administration Commission (SASAC), said employees from the central SOEs donated 1.337 billion yuan, accounting for more than 34 percent of the total.

Liu added that this money and these materials were mainly used to fund victims from the May 12 deadly earthquake and the central SOEs in the quake-battered areas and reconstructions.

The quake which has killed 69,196 as of Friday noon caused a 41.4 billion yuan direct economic loss to central SOEs.

China currently has 150 central SOEs directly under the control of the SASAC, with a total assets of 14.6 trillion yuan by November of last year.