State run enterprises hugely profitable

Beijing (CNS) – The net profits made by China's state-run enterprises will reach about 900 billion yuan this year, according to a statement made by Huang Shuhe, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), on December 28.

117 state-run enterprises showed total profits of 831.79 billion yuan as of the end of November this year, up by 3.6 percent over last year, despite a slower rate of acquisition, according to a report released by the SASAC last week.

China's core enterprises still need to improve their management systems,a process that can likely only be learned from international enterprises, said Huang, adding that it is more important than ever before to hone the management skills that will help China ride out the upcoming global financial difficulties. He also suggested more strict assessment procedures for high-risk investment projects would be an excellent start.