Overseas assets of central SOEs reach 7.6t yuan at end of 2018

BEIJING — Overseas assets of China's centrally administered State-owned enterprises (SOEs) reached 7.6 trillion yuan ($1.1 trillion) by the end of last year, the country's top state asset regulator said on Oct 17.

Currently, China's central SOEs have more than 11,000 overseas units, which were located in 185 countries and regions, said Peng Huagang, spokesperson of the State-owned Assets Supervision and Administration Commission, at a press conference.

In 2018, overseas revenue of the central SOEs stood at 5.4 trillion yuan, while profits totaled 131.89 billion yuan, according to Peng.

While seeking their own development amid "going abroad," these companies have stimulated local economic development and offered job opportunities for local people, he said.