Home / Government / Central Government News Tools: Save | Print | E-mail | Most Read | Comment
Premier: China to Launch Separate Budget on SOE Earnings
Adjust font size:

China will begin a trial budget, which separately tracks the earnings of state-owned enterprises (SOEs), under the supervision of central government within this year, the State Council decided at a meeting on Wednesday chaired by Premier Wen Jiabao.

 

With the budget, the state would obtain the earnings from state-owned assets as the owner of enterprises, and spend the money according to the budget plan.

 

The earnings included in the budget would be channeled to support the government's planning for industrial development, restructuring the national economy, technological renovations of companies, compensating SOEs with structural reform expenses, and supplementing the social security fund, said the premier.

 

Wen said the special budget system was an important step in the income distribution reform of state-owned enterprises, and would help companies improve technologies and competitiveness, adding the government's macro-economic control would be strengthened as well.

 

The earnings of the SOEs would satisfy the needs of enterprises for their development, and only a proportion of total earnings would go into the budget.

 

The budget of SOE earnings would be planned independently from the government's main public spending budget, and carried out at the local level according to the plans of local governments.

 

(Xinhua News Agency May 31, 2007)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Possible Supervision System for Central SOEs' Overseas Investment
- State Owned Enterprises Must Protect Natural Resources
- SOE Profits Surge in First 2 Months
- SOEs Will Further Welcome Strategic Investors
- Income Gap Leads to SOE Salaries Probe
- Financial Assets See 33% Growth
- Major SOE Profits Up 34.7% in First Four Months
Most Viewed >>
Questions and Answers More
Q: What kind of law is there in place to protect pandas?
A: In order to put the protection of giant pandas and other wildlife under the law, the Chinese government put the protection of rare animals and plants into the Constitution.
Useful Info
- Who's Who in China's Leadership
- State Structure
- China's Political System
- China's Legislative System
- China's Judicial System
- Mapping out 11th Five-Year Guidelines
Links
- Chinese Embassies
- International Department, Central Committee of CPC
- State Organs Work Committee of CPC
- United Front Work Department, Central Committee of CPC