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2011 Saw Huge Growth in Central Government Enterprises

A Xinhua report revealed some statistics on the 2011 performance of China’s state-owned enterprises that are under the central government, or central government enterprises. (State-owned enterprises include those under the central government, provincial government, and city government, among which those under central government are the largest in size.)

In 2011, these enterprises achieved an operating revenue of 20.2 trillion yuan (US$3.2 trillion), up 20.8% over 2010; a net profit of 971.3 billion yuan (US$154 billion), an increase of 6.4%; and tax payments of 1.7 trillion yuan (US$0.27 trillion), up 19.7%; accounting for about one sixth of the national tax revenue. As of the end of 2011, the asset size of the 117 central government enterprises reached 28 trillion yuan (US$4.4 trillion), up 14.9 percent; with net assets of 10.7 trillion yuan (US$1.7 trillion), an increase of 11.4%. Among the 2011 Fortune 500 companies, 38 are China’s central government enterprises, an increase of eight over 2010.

For the first 11 months of 2011, those enterprises’ overseas operating revenues reached 3.4 trillion yuan (US$0.54 trillion) with a profit of 128 billion yuan (US$20.3 billion), an increase of 30.7% and 28% respectively. The growth rate significantly exceeds that of their domestic operations.

Source: Xinhua, February 28, 2012