Economy

Govt to collect more from state firms' profits

(Xinhua)
Updated: 2010-05-12 14:35
Large Medium Small

BEIJING - The Chinese government will collect more from State-owned enterprises' profits as the current payout level was "too low," the China Securities Journal reported Wednesday, citing a statement from the Ministry of Finance.

Related readings:
Govt to collect more from state firms' profits Official calls for better supervision in state firms
Govt to collect more from state firms' profits China's state firms see big profit gains in first quarter
Govt to collect more from state firms' profits China's State firms donate to drought relief campaign
Govt to collect more from state firms' profits China State firms hand in plans to exit property sector

The current profit payout level of 5 to 10 percent was not great enough to curb blind investments made by state firms, the ministry said.

China collected 98.87 billion yuan ($14.5 billion) from state firms' profits in 2009, up from 44.36 billion yuan in 2008 and 13.99 billion yuan in 2007.
Specials
Columnists
Newsmaker
Biz Unusual
China Daily E-paper