State-owned enterprises of China

This is a list of state-owned enterprises of China. A state-owned enterprise is a legal entity that undertakes commercial activities on behalf of an owner government. Their legal status varies from being a part of government to stock companies with a state as a regular or dominant stockholder. There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms are often used interchangeably. The defining characteristics are that they have a distinct legal shape and they are established to operate in commercial affairs. While they may also have public policy objectives, SOEs should be differentiated from other forms of government agencies or state entities that are established to pursue purely non-financial objectives.[1] The role of the Chinese Communist Party (CCP) in SOEs has varied at different periods but has increased during the rule of CCP General Secretary Xi Jinping, with the Party formally taking a commanding role in all SOEs as of 2020.[2] For example, Lai Xiaomin, the former president of China Huarong Asset Management, which is a famous state-owned enterprise, announced in 2015 that during the operation of China Huarong Asset Management, the Committee of China Communist Party will play a central role, and party members will play an exemplary role.[3]

State-owned enterprises accounted for over 60% of China's market capitalization in 2019[4] 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%.[5][6] As of the end of 2019, the total assets of all China's SOEs, including those operating in the financial sector, reached US$78.08 trillion.[7] Ninety-one (91) of these SOEs belong to the 2020 Fortune Global 500 companies.[8]

State Council (Central Government)

China Investment Corporation

SASAC of the State Council

SASAC currently oversees 97 centrally owned companies.[9] Companies directly supervised by SASAC are continuously reduced through mergers according to the state-owned enterprise restructuring plan with the number of SASAC companies down from over 150 in 2008.[10]

Ministry of Finance

Ministry of Education

Regional Governments

Anhui Province

Beijing Municipality

Chongqing Municipality

Gansu Province

Guangdong Province

Zhuhai City

Guangxi Zhuang Autonomous Region

Guizhou Province

Hebei Province

Heilongjiang Province

Hubei Province

Wuhan City

Liaoning Province

Shanghai Municipality

Shandong Province

Linfen City

Yantai City

As of 2019

Shanxi Province

Tianjin Municipality

Xinjiang Uyghur Autonomous Region

Zhejiang Province

Ningbo City

Hong Kong S.A.R.

See also

References

  1. Profiles of Existing Government Corporations, pp. 1–16
  2. Wang, Orange; Xin, Zhou (January 8, 2020). "China cements Communist Party's role at top of its SOEs, should 'execute the will of the party'". South China Morning Post. Retrieved January 8, 2020.
  3. "《中国华融党委书记、董事长赖小民赴广东分公司调研 强调全系统要总结、学习、推广"广东经验"助推中国华融转型发展》". Archived from the original on 2020-08-27. Retrieved 2020-08-26.
  4. Hissey, Ian (17 December 2019). "Investing in Chinese State-Owned Enterprises". insight.factset.com. Retrieved 15 March 2021.
  5. Tjan, Sie Tek (21 May 2020). "How reform has made China's state-owned enterprises stronger". www.weforum.org. Retrieved 19 October 2020.
  6. CBNEditor (18 January 2021). "China's GDP Breaches 100 Trillion Yuan Threshold after Posting 2.3% Growth in 2020, Disposable Income up 4.7%". China Banking News. Retrieved 13 April 2021.
  7. Tjan, Sie Tek (17 October 2020). "China State Firms' Assets grow even as the Government presses for lighter debt". www.caixinglobal.com. Retrieved 19 October 2020.
  8. Tjan, Sie tek (18 August 2020). "The Biggest but not the Strongest: China's place in the Fortune Global 500". www.csis.org. Retrieved 19 October 2020.
  9. "央企名录" [List of Central SOEs]. Official website of SASAC (in Chinese). 20 December 2016. Retrieved 10 February 2017.
  10. "China gives state firms $8 bln to combat slowdown". Reuters. November 28, 2008.
  11. "Zhōngguó bǎowǔ "wúcháng" shōugòu mǎgāng gāngtiěyè jiānbìng chóngzǔ tísù" 中国宝武“无偿”收购马钢 钢铁业兼并重组提速. 第一财经 (Yicai) (in Chinese (China)). Shanghai. 3 June 2019. Retrieved 18 June 2019.
  12. "关于方正东亚信托有限责任公司调整股权结构的批复" (in Chinese). CBRC. 4 November 2016. Retrieved 9 January 2017.
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