Only 20% COE Profits Retained by Companies
Published:
2011-03-07
Although centrally owned enterprises (COEs) earn over one trillion yuan in profits, only about 200 billion yuan of these profits flow back to these companies according to Wang Yong, director of the State-owned Asset Supervision and Administration Commission (SASAC). Wang told a reporter from the Beijing News the remaining 80% of COE profits flow to either the central government in the form of taxes or payments to SASAC (26%), national development funds (20%) or strategic investors that have stakes in the 78% of COE that are listed on domestic markets (30%).
Source
The Beijing News
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