Quality of China's state-owned assets improved significantly: report

Engineers of China Railway 20th Bureau Group Corp build a bridge for the Marka-Bangula Railway project in Malawi on Aug 10. BEIJING -- China has made significant strides in improving the quality of the assets of state-owned enterprises, driven by deepened reforms and enhanced supervision, according to a report. The report on the enforcement of the Law on State-Owned Assets of Enterprises was submitted for deliberation on Sunday to an ongoing session of the Standing Committee of the National People's Congress. Last year, the combined revenue of SOEs nationwide stood at 85.6 trillion yuan, and the total profits amounted to 4.7 trillion yuan, reflecting a nearly threefold increase from the 2009 level. The report attributes the achievements to the country's efforts in deepening SOE reforms and strengthening supervision of the state-owned assets.