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15 July 2015

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Hunan SOEs Assets Exceeds 2 Trl CNY in 2017

2018-01-19 Download Print Comment

The Work Conference on Hunan State-owned Enterprises (SOEs) Reform and State-owned Assets Supervision was held on January 17, 2018. It announced that in 2017, the total assets of Hunan enterprises under the state-owned assets supervision was more than 2.1 trillion CNY, with a profit of 19.5 billion CNY and an increase of 105% over the same period last year. These enterprises generated a tax revenue of 21.7 billion CNY, a year-on-year increase of 25%. The assets of SOEs under provincial supervision stood at 700 billion CNY, with an operating income of 425 billion CNY and an increase of 20%. These provincially supervised SOEs realized a profit of 12.9 billion CNY, up 464% year on year. The tax revenue hit a record high and increased 20% to 17.4 billion CNY.

In 2017, Hunan state-owned assets system boosted SOEs reform through state-owned assets reform, and greatly enhanced SOEs’ economic benefits. Among the provincially supervised SOEs, 11 enterprises achieved operating income of over 10 billion yuan. The operating income of Hunan Valin Group, Hunan Construction Engineering Group, and Zoomlion Heavy Industry Science & Technology Co., Ltd. (Zoomlion) exceeded 100 billion CNY, 80 billion CNY, and 50 billion CNY respectively.

There are 16 enterprises making a profit of more than 100 million CNY, of which Hunan Valin Group gained a profit of more than 50 billion CNY; Zoomlion, XIANDAITOUZI, and Hunan Construction Engineering Group more than 1 billion CNY.

The SOEs in Changsha, Changde, Zhuzhou, Xiangtan, Shaoyang and Hengyang realized a profit of more than 100 million CNY. The profits of Yiyang, Zhuzhou and Changsha increased by 77%, 16% and 14% respectively.

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Translator: Xiao Juan

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