section_path: Government/State-owned enterprises
section_name: State-owned enterprises
paragraph_text: State-owned enterprises
  
  China's SOEs perform important functions that benefit the state. Academic Wendy Leutert writes, "They contribute to central and local governments revenues through dividends and taxes, support urban employment, keep key input prices low, channel capital towards targeted industries and technologies, support sub-national redistribution to poorer interior and western provinces, and aid the state's response to natural disasters, financial crises and social instability."
  
  Almost 867,000 enterprises in China have a degree of state ownership, according to Franklin Allen of Imperial College London. As of 2017, China has more SOEs than any other country, and the most SOEs among large national companies. State-owned enterprises accounted for over 60% of China's market capitalization in 2019 and generated 40% of China's GDP of US$15.98 trillion dollars (101.36 trillion yuan) in 2020, with domestic and foreign private businesses and investment accounting for the remaining 60%. As of the end of 2019, the total assets of all China's SOEs, including those operating in the financial sector, reached US$58.97 trillion In 2015. Ninety-one (91) of these SOEs belong to the 2020 Fortune Global 500 companies. As of 2023, private firms represent 37% of the country's top-100 listed firms, according to the Peterson Institute for International Economics.
  
  China's SOEs perform important functions that benefit the state. Academic Wendy Leutert writes, "They contribute to central and local governments revenues through dividends and taxes, support urban employment, keep key input prices low, channel capital towards targeted industries and technologies, support sub-national redistribution to poorer interior and western provinces, and aid the state's response to natural disasters, financial crises and social instability."
  
  Almost 867,000 enterprises in China have a degree of state ownership, according to Franklin Allen of Imperial College London. As of 2017, China has more SOEs than any other country, and the most SOEs among large national companies. State-owned enterprises accounted for over 60% of China's market capitalization in 2019 and generated 40% of China's GDP of US$15.98 trillion dollars (101.36 trillion yuan) in 2020, with domestic and foreign private businesses and investment accounting for the remaining 60%. As of the end of 2019, the total assets of all China's SOEs, including those operating in the financial sector, reached US$58.97 trillion In 2015. Ninety-one (91) of these SOEs belong to the 2020 Fortune Global 500 companies. As of 2023, private firms represent 37% of the country's top-100 listed firms, according to the Peterson Institute for International Economics.
  
  China's SOEs perform important functions that benefit the state. Academic Wendy Leutert writes, "They contribute to central and local governments revenues through dividends and taxes, support urban employment, keep key input prices low, channel capital towards targeted industries and technologies, support sub-national redistribution to poorer interior and western provinces, and aid the state's response to natural disasters, financial crises and social instability."
  
  Almost 867,000 enterprises in China have a degree of state ownership, according to Franklin Allen of Imperial College London. As of 2017, China has more SOEs than any other country, and the most SOEs among large national companies. State-owned enterprises accounted for over 60% of China's market capitalization in 2019 and generated 40% of China's GDP of US$15.98 trillion dollars (101.36 trillion yuan) in 2020, with domestic and foreign private businesses and investment accounting for the remaining 60%. As of the end of 2019, the total assets of all China's SOEs, including those operating in the financial sector, reached US$58.97 trillion In 2015. Ninety-one (91) of these SOEs belong to the 2020 Fortune Global 500 companies. As of 2023, private firms represent 37% of the country's top-100 listed firms, according to the Peterson Institute for International Economics.