Taipei, Feb. 10 (CNA) President Chen Shui-bian said Tuesday that his administration will continue to promote the privatization of state-run enterprises.
Speaking at a gathering of owners of gas stations affiliated with the state-run Chinese Petroleum Corp. (CPC) , Chen said that under a privatization program initiated by his administration more than three years ago, the overall performance of state-run enterprises has been improving, with the loss-making ones becoming profitable and the money-making ones earning even greater profits.
For instance, he noted, China Shipbuilding Corp. recorded profits of NT$520 million (US$15.4 million) for 2003 and NT$300 million for 2002 as opposed to the NT$4.5 billion it lost in 2000.
Tang Eng Iron Works Corp., another state-run company, which registered a deficit of NT$5.6 billion in 2000, earned NT$200 million and NT$1.47 billion in 2002 and 2003, respectively. "We should not be satisfied with these achievements, " Chen said, adding that the reforms should be continued.