The sales revenue of China's state-owned and state-controled enterprises in 2003 reached 7.5 trillion yuan (900 billion US dollars), up 23.6 percent over the previous year, statistics from China's Finance Ministry show.

The combined profit of the state-owned and state-controled enterprises in 2003 was estimated to be 461 billion yuan (55.5 billion US dollars), up 21 percent, said Li Yizhong, a senior official of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), at a conference here Friday.

The SASAC directly supervises and manages 189 enterprises subordinate to the central authorities, whose sales income and profit reached 4 trillion yuan (482 billion US dollars) and 300 billion yuan (36.1 billion US dollars), up 21.6 percent and 24.5 percent respectively, the statistics show.

By the end of 2003, the total assets of the enterprises subordinate to the SASAC reached 8.32 trillion yuan (one trillion US dollars), up 12 percent from a year earlier, Li said.

Source: Xinhua