Sunday, 16 May 2021 11:02 GMT

China: Central SOEs speculation sees quick expansion

( MENAFN )According to official statistics on Friday, April 16, China's centrally-administered state-possessed enterprises (SOEs) spent 497.89 billion yuan (about USD76.25 billion) in fixed assets in the first three months. It augmented 36.5 percent from 2020.

The State-owned Assets Supervision and Administration Commission (SASAC) of the State Council told a press meeting that last month; central SOEs spent 191.44 billion yuan. It is an upsurge of 12.9 percent year on year.

According to the SASAC, throughout the January-March period, fixed-asset investment of power generation firms increased by 79.4 percent year on year to 109.64 billion yuan. That of power grid SOEs increased by 47.9 percent from the same period of 2020 to 79.73 billion yuan.

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