Profit for all from SOEs

State-owned enterprises (SOEs) turn in only about 10 percent of their profits to the central government and it is high time to readjust that proportion, says an article of the Yanzhao Metropolis Daily. Following is an excerpt:

"Where have the profits of State-owned enterprises gone"? That is a question attracting wide public concern nowadays, with numerous postings on the Internet as well as other media giving it much attention.

Since 1993, the accumulated profits reserved by the SOEs amounted to several thousand billion yuan. Director of State-owned Assets Supervision and Administration Commission Research Center Wang Zhongming told the media that the remaining 90 percent of profits have been spent on the "expansion of production, the costs of reform and other practical expenditure". However, details of profits spending have never been revealed to the public.