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Guangzhou State-owned assets total $527b
Update: 2018-11-29     Source: chinadaily.com.cn

According to a report on the management of State-owned assets in Guangzhou, by the end of 2017, the city's total state assets reached 3.66 trillion yuan ($527 billion), among which the assets of State-owned financial enterprises totaled 1.57 trillion yuan, accounting for 42.9 percent of the city's total.

Guangzhou's State-owned financial enterprises also achieved 1.42 trillion yuan in liabilities and 157.19 billion yuan in owners' equity, accounting for 61.7 percent and 19 percent of the city's total respectively.

In the same year, the value and appreciation rate of the State-owned assets of such financial enterprises in Guangzhou reached 116 percent. The annual operating income was 38.12 billion yuan, the tax and fee was 6.96 billion yuan, and the total profit was 16.38 billion yuan, accounting for 5.4 percent, 24.8 percent and 24.8 percent respectively.

The total assets of State-owned enterprises (excluding financial enterprises) are 1.55 trillion yuan, accounting for 42.3 percent of the whole city.

In addition, three State-owned enterprises: Guangzhou Rural Commercial Bank, Chong Hing Bank, and Yuexiu Financial Holdings were listed for the first time in 2017.

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