China will accelerate the listing of its eligible centrally administered state-owned enterprises (SOEs) or their main businesses in three years. Most SOEs in oil chemicals, telecommunications, transportation and metallurgy have been fully listed in recent years. In 2006, the total assets of central SOEs hit 12.2 trillion yuan (US$ 1.6 trillion), up 46.5 % from 2003. Consolidated SOE revenues amounted to 8.3 trillion yuan (US$ 1.112 trillion), up by 85.3 percent.
The assets regulator, set up in 2003 to take control of big state companies, has been reducing the number of major SOEs by promoting mergers and acquisitions and allowing poorly performing state firms to go bankrupt. Source: Xinhua / Assets Supervision and Administration Commission (SASAC)