The general office of China's State Council has issued guidelines to further improve the operating budget system for State-owned capital, according to a circular released on Jan 6, in an effort to give more support to State-owned capital and State-owned enterprises (SOEs), and enhance the core competitiveness of SOEs.

The operating budget system’s important regulatory role towards macroeconomics and the structure of State-owned economy will also be fully leveraged, according to the circular.

The document laid out measures to refine the handover system of revenue of State-owned capital, and to strengthen the expenditure efficiency and management of the operating budget system for State-owned capital.

Moreover, the circular also stressed to intensify organization and leadership of the implementation of the guidelines.