Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China's central SOEs participate in Belt and Road development

October 31, 2018


Abstract : China's centrally-administered state-owned enterprises (SOEs) have actively participated in the Belt and Road development, undertaking over 3,000 projects in the past five years.

timg (6)

BEIJING, Oct. 31 (Xinhua) -- China's centrally-administered state-owned enterprises (SOEs) have actively participated in the Belt and Road development, undertaking over 3,000 projects in the past five years, a senior official said Tuesday.

"The firms have engaged in the construction of railways, ports, highways, communications networks and other infrastructure projects in countries and regions along the Belt and Road," said Weng Jieming, deputy head of the State-owned Assets Supervision and Administration Commission, at a press briefing.

"In energy and resource areas, the companies cooperated on more than 60 projects on oil and natural gas exploration in over 20 countries, in line with the countries' demands for economic development."

The central SOEs also invested in a large number of industrial and manufacturing projects to help local economies upgrade.

"The companies played a positive role in improving local people's livelihood," Weng said. "About 85 percent of the employees at the central SOEs' overseas branches are hired locally."

"The firms will continue to optimize their models of business cooperation, based on mutual benefits, sound planning and risk controls.

"They will also strengthen cooperation with Chinese private firms, local firms in countries along the Belt and Road, and international corporations to better guard against risks."

As of the end of 2017, central SOEs had more than 7 trillion yuan (about 1 trillion U.S. dollars) of overseas assets in total, with their overseas units realizing 4.7 trillion yuan in revenues and 106.4 billion yuan in profits annually.

Scan the QR code and push it to your mobile phone

Keyword: China-SOE

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial