China
        

From Chinese media

Central SOEs to turn over 63b yuan to State

Updated: 2011-03-10 15:29

By Gao Yuan (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

China's central State-owned enterprises (SOEs) were estimated to turn over about 63 billion yuan ($9.37 billion) as capital income to the nation, the China Securities Journal reported Thursday.

The total profits of the central SOEs reached 1.1 trillion yuan in 2010, the newspaper reported, quoting Peng Huagang, a spokesman for the State-owned Assets Supervision and Administration Commission (SASAC).

Related readings:
Central SOEs to turn over 63b yuan to State SOE donations hit 4.20b yuan in 2010
Central SOEs to turn over 63b yuan to State China's central SOEs performe well abroad
Central SOEs to turn over 63b yuan to State Central SOEs increase payback to the State
Central SOEs to turn over 63b yuan to State SOEs' growing obligations

Peng estimated that 63 billion yuan will be turned over by the central SOEs this year because the SASAC raised the SOEs' profit payment ratio to 15 percent in November of 2010. It was 10 percent before the rising, the report said.

After deducting income taxes, shareholders' gross returns, legal accumulation funds and other expenses, about one-fourth of the earnings -- about 280 billion yuan -- became enterprises' disposable profits, which could be used for SOEs' reform and development, which includes expanding production, replacing retired personnel and covering the State investment finance gaps, according to Peng.

The central SOEs paid about 282.5 billion yuan as taxes last year, accounting for about 25 percent of their entire profits, Peng said.

E-paper

Sindberg leaves lasting legacy

China commemorates Danish hero's courage during Nanjing Massacres.

Preview of the coming issue
Crystal Clear
No more tears

European Edition

Specials

NPC & CPPCC sessions

Lawmakers and political advisers gather in Beijing to discuss major issues.

Sentimental journey

Prince William and Kate Middleton returned to the place where they met and fell in love.

Rent your own island

Zhejiang Province charts plans to lease coastal islands for private investments

The green lantern
Adventures of Pierre
Inland interchange