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As of 2017, China has more SOEs than any other country, and the most SOEs among large national companies. [1] [page needed] As of the end of 2019, China's SOEs represented 4.5% of the global economy [2] and the total assets of all China's SOEs, including those operating in the financial sector, reached US$78.08 trillion. [3]
[3] [4] [5] The total revenue hit CN¥39.8 trillion (about US$5.5 trillion) in 2023, with a total profit of 2.6 trillion yuan according to a report from SASAC. [6] Vice Premier Zhang Guoqing is responsible for the supervision of the SASAC.
A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation.SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce.
During this period, rural enterprises, often with names "commune and brigade enterprises" and of neglectable size, served as a supplement to those state-owned enterprises (SOE), which mainly focused on heavy industrial sectors, and were established by the people's communes and bridges to support agricultural production and to produce rural ...
The China Business Journal (abbreviated as CBJ; [3] 中国经营报; 中國經營報), or China Business, [4] is a Beijing-based [5] nationally distributed Chinese economic newspaper [6] launched on January 5, 1985. [7]
As of the end of 2019, China's SOEs represented 4.5% of the global economy. State-owned enterprises accounted for over 60% of China's market capitalization in 2019 [29] and generated 40% of China's GDP of US$15.97 trillion (101.36 trillion yuan) in 2020, with domestic and foreign private businesses and investment accounting for the remaining 60%.
China’s exports slowed in November and its imports declined, falling below forecasts and underscoring potential weakness in trade at a time when its leaders are striving to boost the economy ...
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. [2] This article lists the largest companies in China in terms of their revenue, net profit and total assets, according to the American business magazines Fortune and Forbes.