SASAC Releases 2009 China State Owned Enterprise Performances

Posted by Reading Time: 2 minutes

Aug. 24 – The State Council’s State-owned Assets Supervision and Administration Committee (SASAC) released the 2009 performances of 108 of the 129 SOEs under state level supervision yesterday.

Missing are China’s banks and financial institutions, which are among the most profitable, but are either under the supervision of the China Banking Regulatory Commission or the China Insurance Regulatory Commission. The SASAC has already indicated it wishes to reduce the numbers of SOEs it administers from 129 to 100, to be achieved through mergers.

The top 10 performing SOEs were as follows:

The worst performing SOEs were:

Chinalco’s poor performance has been down due to the depressed market in aluminum, but the company is being restructured and is diversifying away from aluminum products. It has recently acquired several rare earth, copper and iron ore mining assets in a bid to diversify. The performances of China’s top SOEs contrast with the top 10 most profitable companies in the United States listed below (2009 figures to compare).

1 thought on “SASAC Releases 2009 China State Owned Enterprise Performances

    Chris Devonshire-Ellis says:

    The take home stat from the above being that the Top Ten Chinese companies collectively produced USD77.99 billion in 2009 billings, while the Top Ten American companies did USD138.44 billion. And America had a very heavy recession and is in recovery, while China has the additional benefit of the RMB position, minimal impact to the downturn, and state support. Corporate America’s demise has been predicted far too early given these results. The US is still top dog by rather more than even these stats suggest. – Thanks – Chris

Leave a Reply

Your email address will not be published. Required fields are marked *