Government plans to raise collections from SOEs. The Chinese government has planned to raise the contribution of profits from major state-owned enterprises (SOEs).

By bne IntelliNews May 16, 2010
As reported by People's Daily Online, the Ministry of Finance announced that it might raise the ratio of profits of SOEs to be submitted to the state coffers. According to existing rules, monopoly enterprises under the administration of the central government in sectors like tobacco, oil, petrochemicals, power, telecommunications and coal mining should submit 10% of their post-tax profits, while the ratio for those in the iron and steel, transportation, electronics and trade sectors should be 5%.The central government collected profits worth CNY 14bn (USD 2bn), CNY 44.4bn and CNY 98.9bn in 2007, 2008 and 2009 respectively from SOEs. In 2009 alone, the enterprises made profits totaling CNY 965.6bn.

<
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Hong Kong's composite interest rate registered 0.25% in February

Hong Kong's composite interest rate declined 3 basis points (bps) registering 0.25% in February this year. As reported by News.gov.hk, the decrease in the composite rates was due to the decline ... more

Thailand's government expected to promote export-oriented SMEs.

Thailand's government is likely to offer financial support for export-oriented small- and medium-sized enterprises (SMEs) and the indigenous industry, resulting in an increase in volume and value ... more

Small companies concerned about various government incentive schemes.

Singapore's small businesses are expected to be having concerns regarding the new and diverse government incentive schemes, which were announced in the recent Budget. As reported by ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    5 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss