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BEIJING, Sept. 28 (Xinhua) -- Despite lingering global economic fragility, China's centrally-administered state-owned enterprises (SOEs) have seen strong growth in the past five years.


Official data showed that the total assets of China's central SOEs reached 50.5 trillion yuan (about 7.62 trillion U.S. dollars) by the end of 2016, an 80 percent jump from the end of 2011.


Behind the robust growth was years of non-stop reforms since the 18th National Congress of the Communist Party of China (CPC) in 2012, which served as a strong boost for their efficiency and vitality.


"Looking back over the past five years, China has completed the top-level design of the SOE reform Cheap Men's ECCO Aurora Mid Boot Coffee , making it more systematic, comprehensive and coordinated," Xiao Yaqing, chairperson of the State-owned Assets Supervision and Administration Commission (SASAC), said at a press conference Thursday.


RESTRUCTURING UNDERWAY


The central government has been actively restructuring its SOEs in a bid to improve their efficiency and competitiveness, with the number of central SOEs falling to 98 from 117 five years ago.


Since the 18th CPC National Congress Cheap Men's ECCO Mid Top Boot Black 633297 , 34 central SOEs have been restructured, including a merger between two of China's top bullet train makers and another between two major steel producers.


Meanwhile, two new firms, Aero Engine Corporation of China and China Tower, were established to meet industrial development needs.p "Technology and market development is the strongest drive for the central SEO restructuring," said Xiao Cheap Men's ECCO M Moccasins Dark Brown , describing the restructuring efforts in the past five years as "unprecedented."


The mergers and reorganizations have helped the SOEs lift their global competitiveness by optimizing allocation of industrial resources, and up to 48 centrally-owned SOEs made it into the Fortune Global 500 rankings this year, according to Huang Danhua, vice-chairperson of the SASAC.


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