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A state-owned enterprise of the People's Republic of China (Chinese: 国有企业) is a legal entity that undertakes commercial activities on behalf of an owner government. As of 2017 [update] , the People's Republic of China has more SOEs than any other country, and the most SOEs among large national companies.
Critics, such as The New York Times, have alleged that China's state-owned companies are a vehicle for corruption by the families of ruling party leaders who have sometimes amassed fortunes while managing them. [11] As of October 2019 China had more than 350 individual entries in the Government-owned companies of China category page.
In 2022, Fortune's Global 500 list of the world's largest corporations included 145 Chinese companies in total. [1] Over the same year, Forbes reported that three of the world's ten largest public companies were Chinese, including the world's largest bank by total assets , the Industrial and Commercial Bank of China . [ 2 ]
China's primary state oil & gas entity. CNPC was overtaken by Amazon and slipped from #4 to #5 in 2023. 6 Sinopec Group: $471,154.2 527,487 China's second-largest state-owned fossil fuel company. Sinopec specialises in refining crude oil into a variety of consumer products. 13 China State Construction Engineering: $305,884.5 382,492
SHANGHAI/HONG KONG/NEW YORK (Reuters) -Five U.S.-listed Chinese state-owned companies whose audits are under scrutiny by the U.S. securities regulator said on Friday they would voluntarily delist ...
Of the 40 companies with licenses to try out autonomous vehicles in California, 10 of them are firms based in China — a bigger share than any other foreign country (Germany, Israel and Japan ...
CCT became the operator of the largest number of warehouses in China. [4] In 2003, CCT acquired a controlling stake in a Hong Kong-listed company, China Logistic. [5] It was subsequently renamed to China Chengtong Development Group. [6] In 2005, CCT was identified by the SASAC as a pilot asset management corporation with 20 billion yuan in ...
Some Chinese state-owned companies have told regulators to consider adjusting lending restrictions to property developers for borrowing related to mergers and acquisitions, Chinese media outlet ...