State Council to raise dividend ratio of SOEs

08:48, November 05, 2010      

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A conference held by the State Council Wednesday decided to enlarge the scope of the operating budget of the State-owned enterprises (SOEs) and raise the ratio of the dividends paid by them to the central government.

Starting in 2011, 1,631 enterprises under five central departments will be incorporated into the State-owned operating budget. Meanwhile, the ratio of the dividends paid by the SOEs will be raised appropriately.

According to previous media reports, the central government will raise the ratio by 5 percent-to 30 percent- based on the financial situation of the companies. The China Business News' report confirmed that the final ratio is yet to be decided upon.

Wang Zhigang, director of a center for enterprise research operating under the State-owned Assets Supervision and Administration Commission (SASAC), said that in recent years, the Chinese economy, and especially the SOEs, have made great achievements. While the development scale of enterprises vary, some have finished transformation and some still need fostering, therefore, the ratio should be adjusted upon the situation in every company.

Source: Global Times


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