Xinhuanet.com
February 6, 2007

Staff Reporter Qi Zhongxi

It is learned from the State Development and Investment Corporation (SDIC) today that in 2006, the company witnessed a substantial improvement in its business performance and its total assets exceeding 100 billion yuan to hit 113.1 billion yuan.

In 2006, SDIC earned 23.1 billion yuan in business revenue, a year-on-year growth of 22%, and made 4.06 billion yuan in profits, a record high. Electricity and coal were major contributors to its profit growth.

According to SDIC President Wang Huisheng, his company completed 14.8 billion yuan worth of infrastructure investment last year and made new progress in construction of industrial projects. The seven projects of Jinping Tier-II Hydropower Station, Xuancheng Power Plant, Xinji Banji Coalmine, Yangquan South Coal Gangue Power Plant, Jingtang Port, Caofeidian Port and Luobupo Potash all won approval from the State to start construction.

In addition, Jinping Tier-I Hydropower Station successfully carried out daming the river ahead of schedule; six power projects of Jingyuan Power Plant Phase-III project, Songyu Power Plant Phase-II project, Zhangjiagang Gase-Fueled Power Plant, Shazhou Power Plant, Xiaoshanxia Hydropower Station and Zhangye Power Plant were all completed and put into operation; and great progress had been made in the pre-phase work of a number of key projects such as the Tianjin Beijiang Power Plant and the Xinji Kouzidong Coalmine.

He said that SDIC is expected to make 27.7 billion yuan in business revenue and 4.1 billion yuan in profits in 2007. The company will complete 6.5 billion yuan of long-term investment and boost its total assets to 140.8 billion yuan this year.
The largest State-owned investment holding company in China, SDIC is also one of the large-type central enterprises under the administration of the State-owned Assets Supervision and Administration Commission of the State Council.