The industrial output value of the province's 50 top enterprises accounted for 98.78 percent of the total output value of Guangdong enterprises controlled or wholly owned by the State in the first four months of this year, which has made them the major driving force for the province's State-owned economy.

The combined industrial output value of the 50 leading local enterprises came to 17.29 billion yuan (US$2.08 billion) during the January-April period, 21 percent higher than that during the same period last year.

The enterprises made 5.91 billion yuan (US$712 million) in profit during the first four months of this year, up 40 percent year-on-year.

These enterprises were also in the lead in supporting the government in its fight against SARS. For instance, the Guangzhou Honda Co, Pearl River Piano Group and Guangzhou Medicine Group donated a combined 5 million yuan (US$602,000) in funding for research into and treatment of the disease.

Wu Kaili, deputy director of the province's Economic and Trade Commission, said: "The SARS blow was a disaster but should also be regarded as an opportunity to urge industries to adjust their production plans in accordance with market needs."

He proposed enterprises engaged in the same industry co-operate to reduce production costs, share technology and avoid the negative effects of competition to achieve a win-win situation.

(China Daily June 16, 2003)