China's mixed-ownership reform to benefit listed central state enterprises

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China’s mixed-ownership reform has helped listed centrally administered state-owned enterprises (SOEs) to boost up their profits in 2017 by improving their financial performances and competitiveness.

43 listed central state companies, which filed annual reports with both Shanghai and Shenzhen stock exchanges have witnessed surging profits last year.

Xinjiang Baiyi Iron and Steel Co., said its net profits surged over 30 times and reached 1.17 billion yuan ($185 mln US dollars) last year, with its operating revenue rising to 16.76 billion yuan (265 mln US dollars), or 69.44 percent growth.

Unicom Group, China’s second-largest mobile carrier, witnessed its net profit grow 176.4 percent year-on-year to 430 million yuan (67 mln US dollars) in 2017.

Official data showed doubt-digit growth in business revenue and profit in the first two months in 2018 of SOEs with a total profit of 206.67 billion yuan.

The number of centrally administered SOEs has dropped from 117 to 98 within the last five years.

So far, two rounds of pilot programs have been launched for 19 SOEs in industries ranging from electrical services to civil aviation experiment with mixed ownership reform.