In 2004, state-owned industrial enterprises
and non-state enterprises with annual turnover exceeding
five million yuan achieved industrial added value of
5,480.5 billion yuan and realized profits of 1,134.2
billion yuan, representing 16.7 percent and 36 percent
year-on-year rises respectively, and revealing a gratifying
simultaneous improvement in speed, quality and benefit.
Since 1996, China has the obvious advantage in the production
of steel, coal, cement, farm-use chemical fertilizer
and television sets.
Reform of state-owned enterprises has always
been the key link of China's economic restructuring.
The Chinese government has made various attempts to
solve the problem of chronic extensive losses in this
sector and by now almost every state-owned enterprise
has adopted the company system. After being transformed
into joint stock companies, the economic benefit of
the state-owned enterprises increased steadily and their
overall strength and quality were remarkably enhanced,
gaining continuously in their control, influence and
lead in the whole national economy. In 2004, of the
industrial added value created by all state-owned industrial
enterprises and non-state industrial enterprises with
annual turnover exceeding five million yuan, state-owned
and state stock-holding enterprises accounted for 42.4
percent, collectively-owned enterprises 5.3 percent,
the rest taken up by other non-public enterprises, including
enterprises with foreign, Hong Kong, Macao or Taiwan
investments, and individual and private enterprises.
The result is a dynamic juxtaposition of diversified
In 2004, of Chinese enterprises ranking
in the world's top 500, 14 enterprises of China's mainland
were all state-owned. Of China's own top 500, 74 percent
(370) were state-owned and state stock-holding enterprises,
with assets of 27, 370 billion yuan and realizing profit
of 266.3 billion yuan, representing 96.96 percent and
84.09 percent respectively of the top 500 corresponding
values. Small and medium-sized enterprises and non-public
enterprises have become China's main wealth creators.
Private enterprises alone provided 50 percent of employment
of the entire society.
Brief Intro. of China