China State-owned Assets Supervision and Administration Commission of the State Council (also known as SASAC) says China's top 180 SOEs own more than nine trillion yuan assets.

These SOEs revenues hit five trillion yuan last year, with an increase of nearly a quarter over the previous year. Most of them see a big jump of profits. Eight of them are on the list of Fortune 500 in 2004.

China adopts a two-level supervision of the SOEs. Big SOEs are under the direct supervision of the central government, while the rest to the local authorities.

(CRI.com February 10, 2005)