SASAC evaluates SOEs

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on Saturday released the results of performance evaluations of State-owned enterprises (SOEs) administered by the central government.

According to the results from SASAC's website, 44 enterprises were given A grades for their performance in 2012, with the top three firms being China Mobile, State Grid Corporation of China and China Petrochemical Corporation (Sinopec).

Unlike the Fortune 500, which ranks according to annual revenue alone, SASAC performs an overall evaluation, so the rank also reflects operational efficiency and quality, Li Jin, chief researcher of the Chinese Enterprises Research Institute, told the Xinhua News Agency on Saturday.