China's SOEs speed up going abroad: report
Updated: 2016-07-01 08:28
(Xinhua)
|
|||||||||
Xiao Yaqing, Chairman of State-owned Assets Supervision and Administration Commission (SASAC), gestures during a press conference at the Fourth Session of the 12th National People's Congress (NPC), in Beijing, 12 March 2016. [Photo/IC] |
BEIJING -- China's State-owned enterprises (SOEs) are accelerating the pace in developing overseas businesses, according to a report delivered to the country's top legislature Thursday.
SOEs, especially centrally-administered SOEs, have become the major force of China ready to compete on an international scale, according to the report, which was delivered by Xiao Yaqing, head of the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC).
Overseas investment of China's centrally-administered SOEs accounts for 60 percent of the country's total non-financial foreign direct investment, and the turnover of foreign contracted projects accounted for 60 percent of the total turnover of foreign contracted projects of China, Xiao said.
SOEs' overseas businesses have expanded from exploitation of energy and mineral products to high-speed railways, nuclear power plants and ultra high voltage (UHV) electricity transmission, according to the report submitted to the National People's Congress Standing Committee during its bi-monthly session.
Xiao said SOEs achieved some major breakthroughs in research and development, including the fourth-generation mobile communication, UHV transmission, high-speed railways, deep-sea exploration, and others.
He said the country will deepen reform in this sector and improve the quality and efficiency of SOEs.
Related Stories
SOE reforms to speed up, target five sectors 2016-06-30 14:35
Northeast SOEs to bear brunt of China's ownership reforms 2016-06-21 13:27
China to roll out second SOE reform list soon 2016-06-20 14:11
Centrally-administered SOEs asked to raise profits by $15b by end-2017 2016-05-20 14:18
SOEs need support for successful reform 2016-04-21 07:52
Today's Top News
China-UK ties to remain strong despite Brexit: envoy
Theresa May among British PM hopefuls
Boris Johnson quits party leadership contest
UK parties head for leadership battles
Terrorist attack in Turkey reinforces need for unity
New British PM to be in place by Sept 9
Labour's Jeremy Corbyn loeses no-confidence vote
Poll: Migrants viewed as dividing European society
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Hollywood snaps up rock star's dog film |
Chinese people welcome dispossessed |
The can-do generation to the fore |
Riding the wave |
Leisure giants buoy cruise market |
She followed her heart |