Official: China to improve cooperation between SOEs and private enterprises

China will improve the system and rules for cooperation between state-owned enterprises (SOEs) and private enterprises, said Lin Qingmiao, director of the Bureau of Enterprise Reform at the State-owned Assets Supervision and Administration Commission (SASAC), during a press conference on Friday.

Lin stressed that the move will promote coordinated development of SOEs and private enterprises, which is a key task of deepening and upgrading the reform of SOEs.

In recent years, the SASAC has boosted cooperation in four aspects，including capital, the industrial chain, the supply chain and scientific and technological innovation, in order to promote coordinated development of SOEs and private enterprises.

Since the launch of the action to deepen and upgrade the reform of SOEs, the centrally-administered SOEs have actively carried out equity cooperation with private enterprises and other social capital, with the amount of funds reaching more than 390 billion yuan ($55.7 billion).

Additionally, Central SOEs have carried out industrial chain cooperation activities with upstream and downstream enterprises, pushing forward the synergetic development of more than 5,700 business entities.

At present, among the more than 2 million enterprises in the upstream and downstream supply chains directly driven by the Central SOEs, 96 percent are private small and medium-sized enterprises.

Lin also highlighted that in the next step, China will encourage SOEs to expand the open sharing of innovation resources, give full play to the resource advantages of SOEs, private enterprises and other types of enterprises, and achieve common development.

（Cover via CFP）