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BIZCHINA / Center
SOEs in list of most admired
By Fu Jing (China Daily)
Updated: 2007-09-13 09:55
State-owned enterprises (SOEs), once known for chronic losses and low
efficiency, now find themselves in the list of the world's most admired
companies chosen by Fortune magazine.
China Mobile topped the list of most admired Chinese companies in the
world for its outstanding profit-making abilities, talent management and
corporate social responsibility.
China Telecommunications, Baosteel Group Corp, China State Construction
Engineering Corp and China National Petroleum Corp also figure in the
list jointly announced by the magazine and Hay Group, an international
consultancy.
The list was based on a survey conducted by Hay Group among 10,000
financial analysts worldwide and the senior management team of 347
multinationals.
The consulting firm also announces the list of most respected companies
for all countries every year but didn't offer the full lists for other
countries as of yesterday.
Huang Shuhe, vice-minister of the State-owned Assets Supervision and
Administration Commission, said the list validates China's achievements
in SOE reforms.
There are 155 companies directly under the control of the central
government and 16 of them have been listed as Fortune 500 companies.
(For more biz stories, please visit Industry Updates)
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