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10:34, 05-Mar-2018
Premier Li vows further SOE reforms
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China will “prudently” move forward with reforms introducing mixed ownership in state-owned enterprises (SOEs), Chinese Premier Li Keqiang said on Monday.
Li made the remarks when delivering a government work report to lawmakers during the opening meeting of the first session of the 13th National People's Congress (NPC), China’s top legislature, being held in Beijing from March 5 to 20.
China has been making solid progress in a drive to reform SOEs and state assets.
“The reform to convert SOEs into standard companies has now basically been completed. Efforts to merge and restructure the organizational levels in, and improve the quality and efficiency of SOEs have made good progress,” said Premier Li, noting that the performance of SOEs has been much improved with profits last year growing by 23.5 percent.
This year will see the implementation of a system for the State Council, the cabinet, reporting to the NPC Standing Committee on the management of state-owned assets. Lists of investor rights and obligations regarding oversight and regulation will be formulated, and the government will grant SOEs more decision-making power, the premier said.