Chinese Vice Premier Zhang Dejiang (C) speaks during a working conference on the supervision and control over state-owned property in Beijing, capital of China, Dec. 25, 2008.(Chinese media Photo)
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BEIJING, Dec. 25 (Chinese media) -- Chinese Vice Premier
Zhang Dejiang said Thursday state-owned enterprises (SOE) should continue
playing the leading role with more reform and technological innovations and make
more contributions to growth as the country faces economic hardship.
Speaking at a conference on the supervision and
administration of state-owned assets, Zhang urged the SOEs to further expand
domestic and international markets, develop self-innovation capabilities to
raise competitiveness and deepen reform to increase vigor.
At a time of economic hardship, SOEs should assume
the responsibility and continue playing the leading role to ensure a sound and
fast economic growth, said the vice premier.
He also said it is necessary to strengthen management and supervision of SOEs so that they would take responsibility for preserving and increasing the value of the state assets.
Chinese Vice Premier Zhang Dejiang (C, rear) speaks during a working conference on the supervision and control over state-owned property in Beijing, capital of China, Dec. 25, 2008. (Chinese media Photo)
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Zhang demanded all SOE leaders and managers to accept
supervision and scrutiny from various sides.
Li Rongrong, director of the State-owned Assets
Supervision and Administration Commission (SASAC) under the State Council, said
that profits of SOEs which are supervised by provincial state assets watchdogs
dropped 12.3 percent in the 11 months to November this year.
SASAC figures showed profits of provincial SOEs and
enterprises mainly controlled by these SOEs were 274.4 billion yuan (39.2
billion U.S. dollars) from January to November, while sales revenue grew 22.9
percent to 5.8 trillion yuan.
Profits of SOEs directly under the central
government's supervision dropped sharply by 26 percent to 683 billion yuan in
the same period, with a sales volume of 10.8 trillion yuan, up 20.2 percent from
a year earlier.
The tax revenue from both provincial and centrally
administered SOEs stood at 1.27 trillion yuan, up about 20 percent.
"It's difficult to maintain growth as the outside
environment was not good," Li said.
He also urged management of SOEs to give priority to
employment stability and refrain from cutting payrolls, saying SOEs should
shoulder more responsibilities in the face of the international financial
crisis.
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