Photo taken on Feb. 21, 2020 shows a factory of China Baowu Steel Group Corporation Limited in Shanghai, east China. (Xinhua/Ding Ting)
BEIJING, Feb. 24 (Xinhua) – Overseas revenue of China's centrally-administered state-owned enterprises (SOEs) exceeded 24 trillion yuan and their total profits approached 600 billion yuan during the 13th Five-Year plan period(2015-2020), the country's top state assets regulator said on Tuesday.
Hao Peng, chief of the State-owned Assets Supervision and Administration Commission (SASAC), said at a press conference on Tuesday that at present, China's central SOEs operates more than 8,000 overseas institutions and projects in over 180 countries and regions worldwide.
Currently, the overseas assets of the central SOEs amounted to about 8 trillion yuan, according to Hao.
Hao also pointed out that more efforts will be made to promote the central SOEs' internationalization process in the future.
China unveiled moves last year to pursue a new development paradigm of "dual circulation," which allows the domestic and overseas markets to reinforce each other, with the domestic market as the mainstay.
(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)
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