The Total Amount of State-owned Assets in Year 2002 Reached 11 Trillion Yuan

In 2002, the restructuring of the state economy further accelerated, and the state economy maintained steady development. The total amount of state-owned assets increased 8.2% over the previous year to reach 11 trillion yuan.

The accounting report of the Ministry of Finance showed that the total amount of state-owned assets of China valued at 11.82992 trillion yuan by the end of 2002, an increase of 898.28 billion yuan over the previous year. Among the total value, the operational assets were 7.69378 trillion yuan, accounting for 65%; the non-operational assets were 4.13614 trillion yuan, or 35%; the assets owned by the central government were 5.65942 trillion yuan, or 47.8%; and those owned by local governments were 6.1705 trillion yuan, or 52.2%.

In 2002, the total amount of operational assets rose by 5.2% over the previous year. Among the total operational assets, the assets owned by general industrial and commercial enterprises, including overseas enterprises, were 6.54767 trillion yuan; those owned by financial and insurance enterprises, including overseas enterprises, were 1.0223 trillion yuan; and those owned by various construction funds were 123.81 billion yuan. As far as structure change is concerned, the assets owned by general industrial and commercial enterprises saw a substantial increase in value and a rise in their proportion to the total operational assets. The assets owned by financial and insurance enterprises maintained steady growth. In 2002 the assets owned by general industrial and commercial enterprises increased by 6.9% over the previous year, accounting for 85.1% of the total operational assets, up 1.4 percentage points year-on-year. Those owned by financial and insurance enterprises rose by 8.6% over the previous year, of which the assets owned by financial and insurance enterprises, which are under the management of the central government rose by 11.4%.

The total amount of non-operational state-owned assets rose by 14.4% year-on-year, of which the assets owned by administrative departments and institutions were 3.04061 trillion yuan in 2002, an increase of 424.26 billion yuan, or 16.2%.