Economy

China central SOEs assets grow to 2 trln yuan

(Xinhua)
Updated: 2010-08-13 11:25

BEIJING - The state-owned assets in China's centrally-administered state-owned enterprises (SOE) reached 2.01 trillion yuan (US$297.40 billion) by the end of June, up 10.71 percent from 2008, China's state-owned assets regulator said on Thursday.

Nearly a quarter of the SOEs have state-owned assets over 10 billion yuan each, while six have state-owned assets over 100 billion yuan, the State-owned Assets Supervision and Administration Commission said in a statement on its website.

"China's state-owned capital has been flowing towards big companies with international competitiveness," said the statement.

Some 30 central SOEs are listed as Fortune 500 companies. They are in sectors such as telecommunications, power generation and petro-chemicals.

The number of China's central SOEs is 123 in August this year, down from 196 at the beginning of 2003.