[One-stop Guide] The Latest Information on Central State-owned Enterprises in 2024

Concept and Characteristics of Central State-owned Enterprises

Central State-owned Enterprises (CSEs), abbreviated as "Chinese central State-owned enterprises," refer to state-owned enterprises where the Central People's Government (the State Council) or entrusted state-owned assets supervision and administration institutions exercise the duties of an investor. The leadership teams of these enterprises are directly managed by the Central Government or entrusted to the Central Organization Department, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), or other central ministries and commissions (associations).

According to the division of state-owned assets management authority, state-owned enterprises are divided into central enterprises (supervised and managed by the central government) and local enterprises (supervised and managed by local governments). Central enterprises dominate the main industries and key fields related to national security and the lifeblood of the national economy, serving as important pillars of the national economy.

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) was established in March 2003 as a ministerial-level institution. In the year of its establishment, it oversaw 196 central enterprises. After 20 years of restructuring and integration, there are now 98, coincidentally half of the original number.

Establishment of a New Central State-owned Enterprise

On the morning of October 18th, the founding ceremony of China Resources Recycling Group Co., Ltd., the first central state-owned enterprise in China's resource recycling sector, was held in Tianjin. Subsequently, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) issued an announcement stating that with the approval of the State Council, China Resources Recycling Group Co., Ltd. had been established, and SASAC would fulfill the duties of an investor on behalf of the State Council, adding the company to the list of enterprises for which SASAC fulfills investor duties. Consequently, the total number of central state-owned enterprises increased from 97 to 98 (at this time last year, the total number of central state-owned enterprises was also 98 due to the reorganization of China Electronics Technology Group Corporation (CETC) and China Hualu Group Corporation in November 2023, approved by the State Council, where China Hualu Group Corporation became a wholly-owned subsidiary of CETC and ceased to be an enterprise for which SASAC fulfills investor duties).

Ranking of Central State-owned Enterprises

The latest list of central state-owned enterprises published by the State Council is sorted by broad industry categories rather than rankings. The main categories of central state-owned enterprises include military industrial complex, energy, electricity, communications, automobiles, steel, minerals, civil aviation, grain and oil, shipping, cultural tourism, and aircraft manufacturing. After the establishment of the new central state-owned enterprise, it will be classified according to its broad industry category, and thus, the newly established China Resources Recycling Group Co., Ltd. is ranked 66th.