Profits of Municipal State-owned Enterprises in Shenzhen soar up by 33%

Published on August 28, 2009 by connie | This story has been viewed 468 views

According to the official website of State-owned Assets Supervision and Administration Commission of Shenzhen, the average annual wages of the 22 enterprise’s heads in 2008 was down by 13%, comparing to last year. In addition, in the first half of this year, Shenzhen municipal state-owned enterprises realized revenue of RMB28.377 billion Yuan, up by 1.5% over the same period of last year, and total profit amount of RMB8.351 billion Yuan, up by 33.2%, over fulfilling the business objectives of the first half year.

Recently, Shenzhen SASAC website for the first time report the auditing and checking conditions of the municipal state-owned enterprises in 2008 and part of the content of the economic operation conference for the first half of 2009.

Currently, there are 20 enterprises under the direct supervision and 22 directly or indirectly controlled public companies of Shenzhen SASAC, focusing on the fields of infrastructure, public services, finance and real estate etc. according to the information announced, Chief Economist of Shenzhen SASAC, Xiong Peijin said, ”In the first half of this year, the state-owned enterprises in Shenzhen altogether have realized operating revenue of 28.377 billion Yuan, up by 1.5% over the same period last year and profit amount of 8.351 billion Yuan, up by 33.2%, over fulfilling the business objective of the first half year. The municipal state-owned economy preliminarily presents its good momentum of rising.”

However, Xiong said Shenzhen’s state-owned enterprises were also facing some problems, such as the unstable basis for increase, many risks and hidden troubles that the enterprises were facing, pressure in the cost and expense control, the ability of brand and independent innovation needed to be strengthened and so on.

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