Reform breathes life into SOE development in Shanxi
The reform of State-owned enterprises (SOEs) in North China's Shanxi province in recent years has led to a boost in their high-quality development.
The modern corporate system with Chinese characteristics as well as the corporate governance structure of SOEs in the province is continuing to improve.
The SOEs have strengthened scientific and technological innovation, and worked with universities to jointly establish and manage innovation platforms, with 24 advanced industrial technology research institutes established and laboratories upgraded.
The province has continued to optimize the shareholding structure of mixed ownership among local SOEs. To date, 20 coal, power, chemical, natural gas, and pharmaceutical SOEs have been listed on domestic stock exchanges.
The deepening of SOE reform has effectively improved the strength and efficiency of the enterprises, and promoted the improvement of the State-owned economy.
As of the end of November, the total assets of provincial SOEs were 3.54 trillion yuan ($556.06 billion), a year-on-year increase of 3.8 percent.
From January to November, SOEs in the province achieved revenue of 1.35 trillion yuan, up 11.4 percent year-on-year; realized total profits of 46 billion yuan, up 170 percent year-on-year; and paid 108.4 billion yuan in taxes, up 39.3 percent year-on-year.