| Number of conglomerates on the rise in China |
BEIJING, Sept. 21 (Xinhua) -- The number of large Chinese conglomerates, with annual operating income and assets exceeding 500 million yuan (62.5 million U.S. dollars), in 2005 reached 2,845, an increase of 81 over the previous year, according to latest figures from the National Bureau of Statistics (NBS).
The asset value of these conglomerates, which are approved by the central and provincial governments, exceeded 2 trillion yuan for the first time, up 18.5 percent from the previous year, the NBS said.
The operating income and profit of the conglomerates grew 23 percent and 25.3 percent respectively, according to NBS.
In 2005, there were 257 more large conglomerates than that were in 2004, the NBS said.
Most of these conglomerates are engaged in manufacturing, wholesaling, retailing, construction, real estate, transportation, ware housing, courier services, mining, agriculture and catering, the NBS said. Enditem
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