Utilisation Rate of Central State-owned Enterprise Subsidiaries Exceeds 80% During Coronavirus Containment

92

China’s state-owned enterprises are pushing for the resumption of work and production amidst efforts to contain the spread of the novel coronavirus.

The work utilisation rate of more than 20,000 production subsidiaries of central SOE’s is currently over 80%, according to figures released by Ren Hongbin (任洪斌), vice-chair of the State-owned Assets Supervision and Administration Commission (SASAC) on 18 February.

For industries such as petrochemicals, communications, power grids and transportation the utilisation rate is in excess of 95%.

“The disease has certainly had an impact upon the production and operation of central enterprise, and has been comparatively large for certain sectors,” said Hong. “However this impact is in stages and provisional.”

According to Hong SASAC has not changed the production and operating targets or reform missions set at the start of 2020.

Related stories

SASAC Bans Spec­u­la­tion Us­ing Fi­nan­cial De­riv­a­tives by Cen­tral State-owned En­ter­prises

State Me­dia Out­lines Eight Key Mis­sions for State-owned En­ter­prise Re­forms in 2020

LEAVE A REPLY

Please enter your comment!
Please enter your name here