Login

Reload

Remember me Forgot it?

Not a subscriber?

Click on the button below to create your account and get immediate access to Xinhua Silk Road Database.

Start a Free Trial

Subscribe

Belt & Road Weekly Subscription Form

Research Report

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Economy

HOME > Economy


China's central SOEs contribute more to society in 2018

January 18, 2019


Abstract : China's centrally administered state-owned enterprises (SOEs) made greater contributions to society last year, an official with the state assets authority said Thursday.

BEIJING, Jan. 17 (Xinhua) -- China's centrally administered state-owned enterprises (SOEs) made greater contributions to society last year, an official with the state assets authority said Thursday.

In 2018, central SOEs handed in 2.2 trillion yuan (325.5 billion U.S. dollars) of taxes and fees, up 5.7 percent from a year earlier, Peng Huagang, spokesman for the State-owned Assets Supervision and Administration Commission of the State Council, told reporters.

The country's three telecom operators completed their tasks of fee cuts in advance last year, saving more than 120 billion yuan for their clients during the year, Peng said.

An industrial investment fund for central SOEs to support poor areas decided upon 63 projects involving 12.89 billion yuan, which will bolster infrastructure construction, promote distinctive industries, improve education and medical care, and raise people's incomes.

Peng also said the combined profits of those companies reached a new high of 1.7 trillion yuan in 2018, up 16.7 percent from 2017, while their revenues rose 10.1 percent to 29.1 trillion yuan.


Related Coverage

Focus

Think Tank

  • 'Make in India' and 'Made in China' not zero-sum gam...

    March 1, 2019

    The success "Make in India" initiative will not only be conducive to the de...

  • The fledgling Greater Bay Area needs ‘affable guida...

    February 28, 2019

    From the examples of three bay areas, namely New York, San Francisco and Tok...

  • Economy can resist external pressure

    February 28, 2019

    China is capable of dealing with any pressure because it is committed to dee...

  • Household debt ratio not a cause for concern

    February 26, 2019

    For many families, the mortgage payment to household income ratio is unreaso...

  • Ask Us A Question

    If you have any questions, please enter them in the box below.

    Reload

    Write to Us

    Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

    Click on the button below to create your account and get imhttp://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

    Start a Free Trial