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China makes steady progress on central SOE mixed-ownership reform

Updated: Oct 13,2020 07:04 AM    Xinhua

BEIJING — China has made progress on mixed-ownership reform of centrally-administered State-owned enterprises (SOEs), an official with the country's top state-asset regulator said on Oct 12.

Since 2013, central SOEs have received more than 1.5 trillion yuan (about $223.46 billion) of social capital through various channels, said Weng Jieming, deputy head of the State-owned Assets Supervision and Administration Commission, at a press briefing.

In recent years, central SOEs have explored mixed-ownership reforms in electric power, telecommunications, civil aviation, and other key sectors in an orderly manner, Weng said.

Mixed-ownership enterprises account for over 70 percent of all legal entities of central SOEs, with listed companies being the major carrier for the reforms, according to Weng.

China has made plans to implement a three-year action plan for SOE reform that aims to enhance the core competitiveness of SOEs and push forward the mixed-ownership reform in an active yet prudent manner.

As a significant part of the plan, the mixed-ownership reform will advance in line with the circumstances of the enterprises, Weng said.

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