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OAO and PAO are forms of open joint-stock companies, while ZAO (and AO) are closed joint-stock companies. [5] [6]The Federal Agency for State Property Management (Rosimushchestvo) is authorized by the Russian government to exercise shareholder rights for federally-owned shares in companies and is responsible for the preparation and nomination of candidates at the annual meetings of shareholders.
The state sector is a major part of China's economy, with SOEs accounting for approximately 25% of the national GDP as of 2020. [10]: 6 China's SOEs are among the largest global firms by revenue, and of the 135 Chinese companies on the Fortune Global 500 list (2023), 85 are state-owned.
Gazprom is the largest company in Russia. Russia's vast geography is an important determinant of its economic activity, with some sources estimating that Russia contains over 30 percent of the world's natural resources. [2] [3] [4] The World Bank estimates the total value of Russia's natural resources at US$75 trillion.
It was China's largest and the world's third-largest company by revenue in 2021, with annual revenues of over US$460 billion. [1] The Industrial and Commercial Bank of China was both China and the world's largest company by assets in 2021, with over US$5.5 trillion in total assets.
But experts say major state-owned companies in China are virtual arms of the ruling Communist Party and have senior party officials embedded in the enterprise’s leadership.
The leaked Russian tax invoices, reviewed by Reuters, also revealed that Uralchem supplied the Sverdlov, Tambov and Kazan factories as well as the state-owned Perm Powder plant last year.
The subsidiary was ultimately acquired by Russia's state-owned oil company Rosneft for roughly $9.3 billion. In February 2005, Russian Finance Minister Alexei Kudrin revealed that Chinese banks provided $6 billion in financing the Rosneft acquisition.
By the late 1990s, there were two state intermediary companies in the country, Rosvooruzhenie and Promexport. On 4 November 2000, the two state-owned companies were merged by Decree No.1834 of the Russian President, establishing the Rosoboronexport Unitary enterprise as the sole state intermediary agency for Russia's military exports/imports. [6]