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SOEs Key to Beijing's Economy
The 2000 Annual Enterprise Inspection report recently released by the Beijing Administration for Industry and Commerce showed that state owned enterprises (SOEs) still play an important role in Beijing's economic development with their high registered capitals and large-scale investments.
Altogether, 187,712 domestically funded enterprises or 79.5% of Beijing's domestically funded enterprises were inspected. Most of them were engaged in commerce, industry, comprehensive technical service, information consultation, architecture and renovations. SOEs accounted for 19.2% of the enterprises inspected and 40.3% of register capitals. SOEs averaged 5.05 million yuan in registered capital, 2.1-times over that of domestically funded enterprises.
In 1999, SOEs paid 19.6 billion yuan in taxes, or an average of 545,000 yuan per SOE, accounting 48.7% of all inspected enterprises.
The report said the inspection demonstrated that notable achievements have been made by SOEs. Limited companies and stock limited enterprises accounted for 39.4% of the inspected companies, earning 12.47 billion yuan in profits or 37.6% of the inspected companies. They also paid 13.5 billion yuan in taxes or 33.5% of all tax revenues from inspected companies.
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