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Tibetan SOEs Take on a New Look
The Tibet Autonomous Region has basically achieved its goal for difficulty relief of backbone State-owned enterprises (SOEs) through a series of measures taken to transform operational mechanism, strengthen management, adjust structure, increase economic returns, maintain stability and promote SOE reforms and development.
Last year, Tibet reported an estimated total industrial output value of 1.792bn yuan, up 8.2 percent over the previous year. Its 30 key enterprises expected a sales income of 3.47bn yuan, 8.4 percent higher than a year before. Of the 84 State-owned and holding backbone enterprises, 60 were profit-earners during the first 11 months last year, and 64 have established, or are establishing, a modern enterprise system.
Efforts have been made to properly tackle the work of the merger and bankruptcy of State-owned enterprises to speed up construction of a passageway for them to withdraw from the market. Altogether 40 enterprises have gone through the procedure and 24 listed on the State merger and bankruptcy plan, with a total of 90m yuan of bad debt reserve written off. Last year Tibet submitted to the State the bankruptcy plan of one industrial and 18 internal/external trade enterprises, along with an application for writing off near 800m yuan bad debt reserve. Besides, seven enterprises had been recommended to the State for trial "Debt-to-Equity" transfer, involving a fund of 540m yuan.
By PD Online staff member Li Heng
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