On November 2, the Research Center of the SASAC of the State Council released the Report on High-quality Development of Central Enterprises. At the same time, the Reform Office of the SASAC of the State Council organized and published the Course of SOEs reform 1978-2018 and Reform Practice: A Pilot Case Collection of Reform of State-owned Assets and State-owned Enterprises. 

The Report on High-quality Development of Central Enterprises is composed of the main report and the sub-reports of 15 central enterprises, and fully shows the high-quality development of central enterprises. 

The main report reveals that in the past two years, the profit growth rate of central enterprises has exceeded the income growth rate, and the improvement of quality and efficiency was outstanding; Focused on the main industry, income and proportions continued to increase; Coordinated development was carried out in an orderly manner, and the allocation of resources was optimized; Promoted supply-side structural reform, enterprise quality significantly enhanced; Innovation development has been fully developed, and the industrial chain is moving toward the high end; The SOEs reform has been deepened and the market-oriented operation mechanism was improved; Steadily promoted international operation, the strength of opening up and development has grown.  Strictly adhered to the bottom line of business development, risk prevention and control work was solid and effective; Implemented the concept of green sharing, and improved the ability of sustainable development; Party building has been strengthened, enterprises developed to strengthen their roots. 

In 2017, the operating revenue and profit of central enterprises respectively increased by 13.3% and 15.2% year-on-year, which created the best result in five years. In 2018, the cumulative operating revenue of central enterprises reached RMB 29.1 trillion, with an increase of 10.1% over the same period of last year; The added value reached RMB 7.1 trillion, with a year-on-year increase of 8.1%; Total profit reached RMB 1.7 trillion, with a year-on-year growth of 16.7%; Total profit reached RMB 1.2 trillion, with a year-on-year growth of 15.7%; The net profit attributable to the owners of the parent company was RMB 610.01 billion, with a year-on-year increase of 17.6%; The total amount of taxes and fees paid was RMB 2.2 trillion, with a year-on-year increase of 5.7%. 

In the first Q3 of 2019, the cumulative operating revenue of central enterprises reached RMB 22.1 trillion, an increase of 5.3% over the same period of last year, and remained above 5% for seven consecutive months; Cumulative net profit reached RMB 1,056.7 billion, a year-on-year increase of 7.4%, showing a good trend. 

Source | finance.sina.com.cn