Five big state-controlled utilities, including Huaneng and Datang, control 45% of the market and smaller state-controlled entities control another 50%.
Buyers apparently included Chinese state-controlled entities which did not want the publicity of cornerstone status.
Their rise will signal a transfer of power from private-sector actors to state-controlled entities, as well as a geographic shift.
Yet alongside the mighty state engine myriad smaller ones are whirring and probably more efficiently.China's state-controlled entities are not particularly profitable.
In 2009 it bought around 58 million barrels of hydrocarbons from state-controlled entities for approximately 2.6 billion euros, and paid to a state-owned entity approximately 24 million euros for shipping contracts.
In 2009 Total bought around 58 million barrels of hydrocarbons from state-controlled entities for about 2.6 billion, and paid to a state-owned entity approximately 24 million for shipping contracts.
Although China encourages a degree of competition among ISPs and content-providers inside China, the number of organisations that can interconnect with the global Internet is limited to just four state-controlled entities, led by the MII.
Even though it was hastily withdrawn, the threat of another mass sell-off of state shares continues to spook the market.Four years after the first sell-off, a full two-thirds of the market's $460 billion capitalisation remains tied up in non-tradable or "legal person" shares held by state-controlled entities.
Second, whenever negotiations involve state-controlled entities (and this is almost always the case in China's state-dominated economy,) assume that one is ultimately dealing with the state.
State-controlled entities account for 70percentt of the country's GDP, according to the International Monetary Fund.
"Some may operate through state-owned and state-controlled entities in industries such as aerospace and defense, banking, finance, healthcare, energy and others, which may not be reasonably identifiable as foreign government entities, and therefore may not be included in our calculation of profit to be donated".
