Central SOEs Invested in 1,676 Belt and Road Projects Over Three Years, SASAC Director Says
Yicai Global
/SOURCE : Yicai
Central SOEs Invested in 1,676 Belt and Road Projects Over Three Years, SASAC Director Says

(Yicai Global) May 8 -- China's centrally-administered state-owned enterprises (SOEs) are actively participating in construction projects under the One Belt, One Road initiative.

Twenty-one central SOEs have invested in 100 key projects and 26 partook of 1,576 projects in the past three years, said Xiao Yaqing, director of the State-Owned Assets Supervision and Administration Commission (SASAC).

These construction projects have caused many countries to see substantial improvements in infrastructure, helping them turn resource advantages into product benefits and boost local economic growth, Xiao said at a State Council Information Office press conference on May 5.

Central SOEs logged a 15 percent increase in average annual investment and a 4.5 percent gain in average annual revenue over years of investing in foreign projects, Xiao noted.

"We encourage and support businesses to work with foreign countries and companies in various forms, such as project partnership, joint construction and development parks. The SASAC is receptive to all these forms and supports central SOEs and overseas firms in achieving win-win outcomes via cooperation," said Xiao.

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Keywords: Central Enterprise , Investment , Major Projects