(3) On that basis, we have taken active measures to develop large enterprise groups which are competitive and further revitalize the small and medium-sized SOEs. Some SOEs have already established reputation in the world. Such well performing enterprises as China Mobile, SINOPEC, PICC Property & Casualty Co. Ltd and CASIC have successfully launched their IPOs overseas.
By the end of 2003, the net assets of the top 10 overseas listed companies have exceeded RMB 1 trillion yuan and their net profits reached RMB 146 billion yuan last year. 2  BIS Review 64/2004  2. Agricultural restructuring has speeded up and government support strengthened.