22:44, 16-Jul-2019
China Economy: Central SOE operation stable & sound in first half of 2019
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00:53, 17-Jul-2019
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China says its central state-owned enterprises overcame various challenges to achieve stable growth in the first half of 2019. Officials say fresh policies will be put in place to help them adapt to global demands. CGTN's Zheng Yibing has this report.
Growth and stability.
Key words describing the economic operation of Chinese central state-owned enterprises in the first half of the year.
The main figures, as quoted by China's state council representatives: operating revenue grew by 5.9 percent on a year-on-year basis.
The net profit in June hit a record high at over 23 billion U.S. dollars with a year-on-year increase of 8.4 percent.
Spokesman Peng Huagang explained the reasons.
PENG HUAGANG, SECRETARY GENERAL STATE-OWNED ASSETS SUPERVISION & ADMINISTRATION COMMISSION, STATE COUNCIL "We take supply-side reform as the core and promote high-quality development, and actively respond to the intricate and complex domestic and international business environments."
He also stressed that reforms would be deepened, like in the mixed ownership economy, the restructuring of companies, and the procuration operation of central SOEs.
And he stressed that central SOEs' business performance is now under strict supervision for better outcomes.
PENG HUAGANG, SECRETARY GENERAL STATE-OWNED ASSETS SUPERVISION & ADMINISTRATION COMMISSION, STATE COUNCIL "We are motivating those with good progress to make more contributions to make better profits. And we will strengthen dynamic supervision to those lagging behind and help them achieve goals set for the whole year."
Furthermore, Peng says that China welcomes collaboration between its central SOEs and multinational corporations.
ZHENG YIBING BEIJING "Based upon the current development, officials say China will take further steps to help central SOEs realize a steady and sustained progress in their economic operation and contribute to a healthy development of the national economy. Zheng Yibing, CGTN, Beijing."