This is a list of state-owned enterprises of China. A state-owned enterprise is a legal entity that undertakes commercial activities on behalf of an owner government. Their legal status varies from being a part of government to stock companies with a state as a regular or dominant stockholder. There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms are often used interchangeably. The defining characteristics are that they have a distinct legal shape and they are established to operate in commercial affairs. While they may also have public policy objectives, SOEs should be differentiated from other forms of government agencies or state entities that are established to pursue purely non-financial objectives.[1]
The role of the Chinese Communist Party (CCP) in SOEs has varied at different periods but has increased during the Xi Jinping administration, with the CCP formally taking a commanding role in all SOEs as of 2020.[2] For example, Lai Xiaomin, the former president of state-owned China Huarong Asset Management announced in 2015 that during the operation of China Huarong Asset Management, the embedded CCP Committee will play a central role, and party members will play an exemplary role.[3]
According to academic Wendy Leutert, China's SOEs, "...contribute to central and local governments revenues through dividends and taxes, support urban employment, keep key input prices low, channel capital towards targeted industries and technologies, support sub-national redistribution to poorer interior and western provinces, and aid the state's response to natural disasters, financial crises and social instability."[4]
As of 2017, China has more SOEs than any other country, and the most SOEs among large national companies.[4] China's SOEs are leaders in its industry, equity markets, and overseas direct investment.[4] State-owned enterprises accounted for over 60% of China's market capitalization in 2019[5] and generated 40% of China's GDP of US$15.97trillion (101.36 trillion yuan) in 2020, with domestic and foreign private businesses and investment accounting for the remaining 60%.[6][7] As of the end of 2019, China's SOEs represented 4.5% of the global economy[8] and the total assets of all China's SOEs, including those operating in the financial sector, reached US$78.08trillion.[9] Ninety-one (91) of these SOEs belong to the 2020 Fortune Global 500 companies.[10]
History of SOEs
SOE mergers have been routine since 2000, and their pace has increased under Xi.[11] The goals of China's current SOE mergers include an effort to create larger and more competitive national champions with a bigger global market share by reducing price competition among SOEs abroad and increasing vertical integration.[11]
Overall, China's focus on SOEs during the Xi era have demonstrated a commitment to using SOEs to serve non-market objectives and increasing Party control of SOEs[4] while taking some limited steps towards market liberalization, such as increasing mixed ownership of SOEs.[12] Along with increased mergers, promotion of mixed ownership, and management of state capital have continued; results have been mixed.[12]
As of 2022, SASAC oversees 97 centrally owned companies.[13] Companies directly supervised by SASAC are continuously reduced through mergers according to the state-owned enterprise restructuring plan with the number of SASAC companies down from over 150 in 2008.[14]
^Profiles of Existing Government Corporations, pp. 1–16
^Wang, Orange; Xin, Zhou (January 8, 2020). "China cements Communist Party's role at top of its SOEs, should 'execute the will of the party'". South China Morning Post. Retrieved January 8, 2020.
^. Archived from the original on 2020-08-27. Retrieved 2020-08-26.
^Hissey, Ian (17 December 2019). "Investing in Chinese State-Owned Enterprises". insight.factset.com. Retrieved 15 March 2021.
^Tjan, Sie Tek (21 May 2020). "How reform has made China's state-owned enterprises stronger". www.weforum.org. Retrieved 19 October 2020.
^CBNEditor (18 January 2021). "China's GDP Breaches 100 Trillion Yuan Threshold after Posting 2.3% Growth in 2020, Disposable Income up 4.7%". China Banking News. Retrieved 13 April 2021.
^Wei, Lingling (2020-12-10). "China's Xi Ramps Up Control of Private Sector. 'We Have No Choice but to Follow the Party.'". The Wall Street Journal. ISSN 0099-9660. Retrieved 2022-08-22.
^Tjan, Sie Tek (17 October 2020). "China State Firms' Assets grow even as the Government presses for lighter debt". Caixin. Retrieved 19 October 2020.
^Tjan, Sie tek (18 August 2020). "The Biggest but not the Strongest: China's place in the Fortune Global 500". www.csis.org. Retrieved 19 October 2020.
^"China gives state firms $8 bln to combat slowdown". Reuters. November 28, 2008.
^"Zhōngguó bǎowǔ "wúcháng" shōugòu mǎgāng gāngtiěyè jiānbìng chóngzǔ tísù" 中国宝武“无偿”收购马钢 钢铁业兼并重组提速. 第一财经 (Yicai) (in Chinese (China)). Shanghai. 3 June 2019. Retrieved 18 June 2019.
^"关于方正东亚信托有限责任公司调整股权结构的批复" (in Chinese). CBRC. 4 November 2016. Retrieved 9 January 2017.
January 30, 2023
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This is a list of state owned enterprises of China A state owned enterprise is a legal entity that undertakes commercial activities on behalf of an owner government Their legal status varies from being a part of government to stock companies with a state as a regular or dominant stockholder There is no standard definition of a government owned corporation GOC or state owned enterprise SOE although the two terms are often used interchangeably The defining characteristics are that they have a distinct legal shape and they are established to operate in commercial affairs While they may also have public policy objectives SOEs should be differentiated from other forms of government agencies or state entities that are established to pursue purely non financial objectives 1 The role of the Chinese Communist Party CCP in SOEs has varied at different periods but has increased during the Xi Jinping administration with the CCP formally taking a commanding role in all SOEs as of 2020 2 For example Lai Xiaomin the former president of state owned China Huarong Asset Management announced in 2015 that during the operation of China Huarong Asset Management the embedded CCP Committee will play a central role and party members will play an exemplary role 3 Contents 1 Significance 2 History of SOEs 3 State Council Central Government 3 1 China Investment Corporation 3 2 SASAC of the State Council 3 3 Ministry of Finance 3 4 Ministry of Education 4 Regional Governments 4 1 Anhui Province 4 2 Beijing Municipality 4 3 Chongqing Municipality 4 4 Gansu Province 4 5 Guangdong Province 4 5 1 Shenzhen City 4 5 2 Zhuhai City 4 6 Guangxi Zhuang Autonomous Region 4 7 Guizhou Province 4 8 Hebei Province 4 9 Heilongjiang Province 4 10 Hubei Province 4 10 1 Wuhan City 4 11 Liaoning Province 4 12 Shanghai Municipality 4 13 Shandong Province 4 13 1 Linfen City 4 13 2 Yantai City 4 14 Shanxi Province 4 15 Tianjin Municipality 4 16 Xinjiang Uyghur Autonomous Region 4 17 Zhejiang Province 4 17 1 Ningbo City 4 18 Hong Kong S A R 5 See also 6 ReferencesSignificance EditAccording to academic Wendy Leutert China s SOEs contribute to central and local governments revenues through dividends and taxes support urban employment keep key input prices low channel capital towards targeted industries and technologies support sub national redistribution to poorer interior and western provinces and aid the state s response to natural disasters financial crises and social instability 4 As of 2017 China has more SOEs than any other country and the most SOEs among large national companies 4 China s SOEs are leaders in its industry equity markets and overseas direct investment 4 State owned enterprises accounted for over 60 of China s market capitalization in 2019 5 and generated 40 of China s GDP of US 15 97 trillion 101 36 trillion yuan in 2020 with domestic and foreign private businesses and investment accounting for the remaining 60 6 7 As of the end of 2019 China s SOEs represented 4 5 of the global economy 8 and the total assets of all China s SOEs including those operating in the financial sector reached US 78 08 trillion 9 Ninety one 91 of these SOEs belong to the 2020 Fortune Global 500 companies 10 History of SOEs EditSOE mergers have been routine since 2000 and their pace has increased under Xi 11 The goals of China s current SOE mergers include an effort to create larger and more competitive national champions with a bigger global market share by reducing price competition among SOEs abroad and increasing vertical integration 11 Overall China s focus on SOEs during the Xi era have demonstrated a commitment to using SOEs to serve non market objectives and increasing Party control of SOEs 4 while taking some limited steps towards market liberalization such as increasing mixed ownership of SOEs 12 Along with increased mergers promotion of mixed ownership and management of state capital have continued results have been mixed 12 State Council Central Government EditChina Investment Corporation Edit Central Huijin Investment China Jianyin Investment China Everbright GroupSASAC of the State Council Edit For a more comprehensive list see State owned Assets Supervision and Administration Commission Central SOEs As of 2022 SASAC oversees 97 centrally owned companies 13 Companies directly supervised by SASAC are continuously reduced through mergers according to the state owned enterprise restructuring plan with the number of SASAC companies down from over 150 in 2008 14 Ministry of Finance Edit Main article Ministry of Finance of the People s Republic of China As shareholder Ministry of Education Edit Peking University Founder Group 70 Peking University Resources Group 30 by Founder Group 40 by Peking University directly Peking University Resources Holdings 65 96 collectively by Founder Group and PKU Resources Group Founder Technology Founder Holdings Jade Bird Software 48 Beida Jade Bird Universal Sci Tech 24 05 collectively Sinobioway Group 40 as minority shareholder Regional Governments EditGovernments below the national level operate portfolios of SOEs which operate both domestically and abroad 13 Anhui Province Edit Anhui Conch Cement Masteel Group 49 15 Beijing Municipality Edit Beijing Guoxiang Asset Management UBS Securities 33 Beijing State owned Capital Operation and Management Center Shougang Shougang Company Shougang Concord International CSC Financial 37 46 Chongqing Municipality Edit Chongqing Iron and Steel CompanyGansu Province Edit Gansu SASAC Baiyin Nonferrous 36 16 Guangdong Province Edit Guangdong Rising Asset Management Zhongjin Lingnan 36 04 Rising Nonferrous Metals Share Guangdong Hengjian Investment Holding 100 Shaoguan Iron and Steel Group 49 Guangdong Provincial Communication Group Guangdong Provincial Railway Construction Investment Group Guangdong Holdings Guangdong Investment 54 68 TCL Corporation 36 Tonly Electronics Holdings Limited 48 70 Shenzhen City Edit Shenzhen Capital GroupZhuhai City Edit Gree Group 100 Gree Electric sold in 2019 Gree Real EstateGuangxi Zhuang Autonomous Region Edit Guangxi Non ferrous MetalsGuizhou Province Edit Kweichow Moutai Group Kweichow MoutaiHebei Province Edit Hesteel Group Hesteel Company Hansteel TangsteelHeilongjiang Province Edit Beiman Special Steel 41 37 Hubei Province Edit Wuhan City Edit Wuhan Financial Holdings Group 100 Founder BEA Trust 67 51 16 Liaoning Province Edit Dongbei Special Steel Beiman Special SteelShanghai Municipality Edit Shanghai Data Exchange Shanghai Jiushi Group Shanghai Municipal Investment Group Shanghai International Port GroupShandong Province Edit Shandong Gaosu Group Shandong Energy GroupLinfen City Edit Linfen Investment Group 100 Yantai City Edit As of 2019 update Yantai Guofeng 100 Wanhua Industrial Group 39 497 Wanhua Chemical Group 21 56 Shanxi Province Edit Datong Coal Mining Group Datong Coal Industry Jincheng Anthracite Mining Group Shanxi Coking Coal Group Shanxi Coking Company Xishan Coal Electricity Group Xishan Coal and Electricity Power Taiyuan Coal Gasification Group 51 Tianjin Municipality Edit TEDA Holding Tianjin Pipe Tianjin TEDA F C Tianjin TEDA Co Xinjiang Uyghur Autonomous Region Edit Xinjiang Investment Development Group 100 Xinjiang Ba Yi Iron and Steel Group 15 Zhejiang Province Edit Ningbo City Edit Bank of Ningbo 21 38 Hong Kong S A R Edit Hong Kong Link 100 MTR Corporation around 75 shares Kowloon Canton Railway Corporation 100 See also Edit China portal Companies portalList of government owned companies State ownershipReferences Edit Profiles of Existing Government Corporations pp 1 16 Wang Orange Xin Zhou January 8 2020 China cements Communist Party s role at top of its SOEs should execute the will of the party South China Morning Post Retrieved January 8 2020 中国华融党委书记 董事长赖小民赴广东分公司调研 强调全系统要总结 学习 推广 广东经验 助推中国华融转型发展 Archived from the original on 2020 08 27 Retrieved 2020 08 26 a b c d Pieke Frank N Hofman Bert eds 2022 CPC Futures The New Era of Socialism with Chinese Characteristics Singapore National University of Singapore Press p 138 doi 10 56159 eai 52060 ISBN 978 981 18 5206 0 OCLC 1354535847 Hissey Ian 17 December 2019 Investing in Chinese State Owned Enterprises insight factset com Retrieved 15 March 2021 Tjan Sie Tek 21 May 2020 How reform has made China s state owned enterprises stronger www weforum org Retrieved 19 October 2020 CBNEditor 18 January 2021 China s GDP Breaches 100 Trillion Yuan Threshold after Posting 2 3 Growth in 2020 Disposable Income up 4 7 China Banking News Retrieved 13 April 2021 Wei Lingling 2020 12 10 China s Xi Ramps Up Control of Private Sector We Have No Choice but to Follow the Party The Wall Street Journal ISSN 0099 9660 Retrieved 2022 08 22 Tjan Sie Tek 17 October 2020 China State Firms Assets grow even as the Government presses for lighter debt Caixin Retrieved 19 October 2020 Tjan Sie tek 18 August 2020 The Biggest but not the Strongest China s place in the Fortune Global 500 www csis org Retrieved 19 October 2020 a b CPC Futures The New Era of Socialism with Chinese Characteristics Frank N Pieke Bert Hofman Singapore National University of Singapore Press 2022 p 140 ISBN 978 981 18 5206 0 OCLC 1354535847 a href Template Cite book html title Template Cite book cite book a CS1 maint others link a b CPC Futures The New Era of Socialism with Chinese Characteristics Frank N Pieke Bert Hofman Singapore National University of Singapore Press 2022 p 141 ISBN 978 981 18 5206 0 OCLC 1354535847 a href Template Cite book html title Template Cite book cite book a CS1 maint others link a b CPC Futures The New Era of Socialism with Chinese Characteristics Frank N Pieke Bert Hofman Singapore National University of Singapore Press 2022 p 137 ISBN 978 981 18 5206 0 OCLC 1354535847 a href Template Cite book html title Template Cite book cite book a CS1 maint others link China gives state firms 8 bln to combat slowdown Reuters November 28 2008 Zhōngguo bǎowǔ wuchang shōugou mǎgang gangtieye jianbing chongzǔ tisu 中国宝武 无偿 收购马钢 钢铁业兼并重组提速 第一财经 Yicai in Chinese China Shanghai 3 June 2019 Retrieved 18 June 2019 关于方正东亚信托有限责任公司调整股权结构的批复 in Chinese CBRC 4 November 2016 Retrieved 9 January 2017 Retrieved from https en wikipedia org w index php title State owned enterprises of China amp oldid 1134862224, wikipedia, wiki, book, books, library,
