Hunan SOEs Remarkable Achievements in Past Five Years

Editor:Sharon Lee
Updated:2017-10-17 10:37:00

  Since the 18th National Congress of the Communist Party of China in 2012, the Hunan provincial state-owned assets system has implemented a series of policies on SOEs reform and development, according to the decisions and plans made by the CPC Hunan Provincial Committee and the People¨s Government of Hunan Province. It has deepened reform, promoted transformation and upgrading, and assisted the SOEs in raising quality and efficiency. The state-owned assets of the province have grown steadily, the structure of state-owned economy continuously optimized, and the vitality, competitiveness, and influence of state-owned enterprises constantly strengthened.

  In the past five years, Hunan provincial SOEs have achieved remarkable results, with a number of competitive enterprises meeting modern enterprise system requirements. As of the end of 2016, the total assets of provincially supervised SOEs reached 580.289 billion yuan, an increase of 82.35% compared with that at the end of 2011. The SOEs under provincial supervision realized an operating income of more than one trillion yuan, up 32.23% over the previous five-year period. The accumulated taxes paid amounted to 52.883 billion yuan, with a growth rate of 5.74%. The economic performance continued to move in a positive direction: a total profit of 7.487 billion yuan was made between January and August this year, and more than 8.716 billion yuan gained in reversing losses to turn a profit year on year, growing by 709.2%.

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  Translator: Yu Jiangjiang

  Chinese source: