Overseas Assets of China’s Central State-owned Enterprises Exceeds One Trillion Dollars
The overseas assets of China’s central state-owned enterprises (SOE’s) surpassed the seven trillion yuan threshold as of the end of 2017, according to the official data from the State-owned Assets Supervisory and Administrative Committee (SASAC).
SASAC data indicates that as of the end of 2017 China’s central SOE’s had 10,791 overseas entities spread arose 185 countries and regions, while their overseas assets exceeded seven trillion yuan (approx. USD$1 trillion), with full year operating revenues of 4.7 trillion yuan and total profits of 106.4 billion yuan.
Speaking at a press conference held on 30 October SASAC vice-chair Weng Jieming (翁杰明) central SOE’s have also undertaken 3,116 projects in countries participating in China’s belt and Road initiative.