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China's decade: SOEs assets up 15.4% annually since 2012
Updated 19:56, 17-Jun-2022
CGTN

The total assets of Chinese enterprises under the supervision of the state-owned assets system reached 259.3 trillion yuan at the end of 2021, up 2.6 times over the end of 2012, hitting an average annual growth of 15.4 percent, officials from the Publicity Department of the Communist Party of China Central Committee told a press conference on Friday. 

China's SOEs have brought in over 2.5 trillion yuan ($373.56 billion) of social capital since 2013, said Peng Huagang, spokesperson for the State-owned Assets Supervision and Administration Commission.

Peng said that more than 70 percent of the centrally administered SOEs and 54 percent of the local SOEs are now mixed-ownership ones.

The SOEs have seen optimized ownership structure and corporate governance, Peng said.

China has been pushing forward mixed-ownership reform in its SOEs, which brings private investors on board to enhance their operational efficiency, optimize the capital structure, and improve competitiveness.

In the next step, the reform will be advanced steadily, Peng added, citing efforts to further improve SOE's governance structure, give full play to the positive role of strategic investors, and make the market-based operation mechanisms more flexible and efficient.

China's ministries started a series of media briefings in April, introducing the country's progress made in different sectors in the past decade.

(With input from Xinhua)

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