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Central SOEs managing over 3,000 projects under BRI

Chinese central government-run State-owned enterprises have undertaken 3,116 projects under the Belt and Road Initiative, which range from infrastructure construction to international cooperation on production capacity, People's Daily reported on Monday.

The newspaper cited data from State-owned Assets Supervision and Administration Commission of the State Council showing that central State-owned enterprises took up 50 percent of the infrastructure projects either already underway or in the pipeline, with contract value of more than 70 percent.

According to the figures, central government-controlled SOEs had 10,791 overseas units in 185 countries and regions at the end of last year, and its foreign assets totaled more than 7 trillion yuan ($1 trillion) in the same period, with annual operating revenue and profit reaching 4.7 trillion yuan and 106.4 billion yuan, respectively.

Meanwhile, the SOEs are also trying to localize their operation overseas, along with protecting environment, improving local people's lives and promoting cultural exchanges. The newspaper said that 85 percent employees working at these SOE units outside China are local citizens, with the figure increasing to over 90 percent at some enterprises.

Source:China Daily  Editor:Lucky

(Source_title:Central SOEs managing over 3,000 projects under BRI)