Central SOEs boost Jilin development, revitalization

Northeast China's Jilin province has signed a total of 49 cooperation agreements with centrally-administered State-owned enterprises (SOEs) with a contractual investment of 232.13 billion yuan ($36.26 billion), during a forum held in Changchun, Jilin province, on June 4.

In recent years, with the strong support of the State-owned Assets Supervision and Administration Commission of the State Council, major central SOEs have continuously increased their investment in Jilin province, actively engaged in the development of Jilin's pillar, advantageous, and characteristic industries, and made significant contributions to the province's revitalization.

In 2019, the operating income of central SOEs and holding companies in Jilin was 1.3 trillion yuan, profits were 73.7 billion yuan, and tax contributions were 76.1 billion yuan. The companies have provided 214,000 jobs.

By the end of 2020, central SOEs had established more than 640 companies of various levels and types in Jilin, with total assets of 1.77 trillion yuan. A total of 351 investment projects had been signed, with a total investment of over 360 billion yuan.

FAW Group, a major auto company based in Jilin, sold 3.7 million vehicles in 2020, ranking first in the domestic automobile market. Its growth rate is 9.5 percentage points higher than the industry average. The company achieved an operating income of 695 billion yuan, a year-on-year increase of 12.5 percent.