The Ministry of Finance yesterday issued a Circular on Improving the Central State-owned Capital Operational Budgets, in contrast with the plan in December 2007, the percentage of state-owned capital gains received by central SOEs increased by 5 percentage points and included enterprises affiliated to ministries of education and other ministries Scope of implementation. It is worth noting that among the SASAC-run central enterprises, only China Unicom Group has been excluded from the list of enterprises under the scope of the state-owned capital operation budget.
According to the four criteria for distinguishing between central enterprises, central government-owned communications companies, like the three major oil companies and the Big5 Power Group, belong to the first category and levy state-owned capital gains at a rate of 15% of their after-tax profits. However, in the first type of central SOEs, China Mobile Group and China Telecom Group, among the top three communications giants, were impressively entertained, except for the lack of China Unicom Group.
China Unicom Group Information Office official told reporters that "do not know the reason, we are also central enterprises, it should be inside the list." A state-owned asset management expert from the Ministry of Finance also said in an interview with reporters that it is unclear how to handle this problem. "However, it will certainly not be missed and there may be other deep reasons."
There are also speculation in the industry, perhaps with the Unicom Group equity structure has a relationship. However, in any case, after a few years of overweight and other means of capital operation, SASAC now holds 95.92% stake in Unicom Group and becomes the absolute controlling shareholder. Even if the SAC is only a stakeholder, it should also be included in the scope of the central SOEs that pay dividends.
