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15 July 2015

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Hunan SOEs Remarkable Achievements in Past Five Years

2017-10-12 Download Print

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

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