SASAC Will Drive Overseas Expansion of China’s Central State-owned Enterprises


The head of China’s State-owned Assets Supervision and Administration Commission (SASAC) says that it will push for further overseas expansion of the country’s central state-owned enterprises.

During a press conference for the 13th National People’s Congress SASAC chief Xiao Yaqing (肖亚庆) said that China’s huge SOE sector had already established a significant foothold in overseas markets.

“As of 2017 central SOE’s had 9,112 entities in overseas jurisdictions, with total assets of up to 7 trillion yuan, and investments or operations in 185 countries and regions.

“We can say that internationalisation has already taken a solid step…but looking forward, there is certainly still a very large gap compared to the world’s first-class enterprises.

“Our next step will be to support and encourage central SOE’s to further ‘expand abroad’ and further expand the vigour of internationalisation.”