The total profits of the central state-owned enterprises (SOEs)
hit record 754.69 billion yuan (about US$119 billion) last year, up
18.2 percent year-on-year, according to State-owned Assets
Supervision and Administration Commission (SASAC).
The central SOEs, referring to those under the management of
central government, posted sales totaling record 8.14 trillion yuan
last year, up 20.1 percent.
According to SASAC, central SOEs involving armaments, power,
machinery, construction, commerce and trade reported growth of 20
percent, while those in the sectors of telecommunications,
metallurgy, mining, and petro-chemistry posted so-so growth.
SASAC figures show that Shen Hua Group Corporation Limited and
China National Coal Group Corp., (Chinacoal), the country's two
major coal producers, generated 293 million tons of raw coal last
year, up 18.1 percent year-on-year. Shen Hua's sales topped 200
million tons and Chinacoal registered over 100 million tons last
year.
Five major power enterprises including China Datang Corporation,
China Power Investment Corporation and China Guodian Corporation
had a combined installed generating capacity of 2.43 trillion
kilowatts at the end of last year, doubling the figure for the end
of 2002. They generated 1.13 trillion kilowatt-hours of electricity
last year, up 17.1 percent.
Four major auto firms including the China FAW Group and
Corporation and DongFeng Automobile Co., Ltd. manufactured 3.22
million autos last year, up 19.2 percent. They sold 3.2 million
autos, a rise of 17.9 percent.
Central SOEs exported 277.81 billion yuan of goods last year, 40
percent higher than the previous year, according to SASAC.
As restructuring and acquisitions have progressed over the last
three years, the number of central SOEs has dropped from 196 to 159
and will be down to around 100 by 2010.
(Xinhua News Agency February 14, 2007)