central business assets approach 18 trillion yuan by the end of last year

June 29, the SASAC Director of the State Council, Li Rongrong said that till the end of last year, the total number of the central business assets is nearly 18 trillion yuan, of which 80% of the assets have been listed.

Li Rongrong said that since the SASAC is established, the central enterprises have been decreased from the initial 196 to the current 138. In fact, the real wholly state-owned companies have been very few. the group company of the China National Petroleum Corporation is wholly state-owned, but its main asset is focus on its listed company.

He said that the mergers and acquisitions of the central enterprises mergers and acquisitions is processing rapidly in recent years without big problems. the purpose of M & A  is to improve the operating efficiency of state-owned assets.

According to the plan of SASAC, by 2010, the number of central enterprises will be reduced to 80-100, including 30-50 large groups and large enterprises with the international competitiveness.
For how to adjust the number to the 80-100, Li Rongrong indicated that the adjustment should be planned, and the plan should be based on the pre-consultation report, the SASAC has done a great deal of this kind of research.

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