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China's State Assets Rise by 8.7% in 2000
The Ministry of Finance said Wednesday that the total value of China's state assets rose to 9, 885.92 billion yuan by the end of 2000, up 8.7 percent on an annual basis.
The ministry said in a news release that the country's state assets have maintained "a stable growth" over the years.
The volume is up 73.1 percent compared with 1995, and is 13.4 times more than in 1978, when China kicked off its reform and opening up drive, it said.
In the past five years, China's distribution structure of state assets has improved greatly, with more money flowing into infrastructure industries and large-scale state-owned enterprises.
By the end of 2000, state assets in the infrastructure industries were worth 3,664.5 billion yuan, up 112 percent over 1995, which represents an annual increase of 16.2 percent over the five years.
State assets in the infrastructure industries accounted for 53. 4 percent of the total state assets for business purposes, up 15 percentage points over 1995.
Large-sale state-owned enterprises owned 4,129.21 billion yuan of state assets, which accounted for 60.2 percent of the total state assets, representing an annual increase of 16.8 percent during the 1995-2000 period.
The Ministry of Finance said that the three main reasons for the increase of China's state assets are:
-- China continues to invest more in infrastructure industries and the field of public-interest products through pro-active fiscal policy;
-- The operation efficiency of the state assets made marked progress due to the increased benefits of the state-owned enterprises and their profit accumulation; and
-- The state-owned enterprises effectively gained more state assets, rights and interests by the increased income from the securities market.
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