China's state-owned enterprise (SOE) watchdog, the State-owned Assets Supervision and Administration Commission (SASAC), briefed the media on SOE reform on Thursday afternoon as the country works to increase these giant firms' productivity.
Director Xiao Yaqing on major SOE reform measures in 2017
Xiao promised tougher supervision of state-owned properties and risk control.
Regrouping of central SOEs is also on top of the agenda, with more focus on the public sector and strategic emerging industries, especially in the industries of steel, coal and thermal power, he said.
Director Zhang Xiwu on regrouping of enterprises controlled by central authorities
Regrouping of “central enterprises” has been successful in the past three years in terms of upgrading firms as well as optimization of overall industrial layout, according to Zhang, who said that the SASAC will now focus on key industries in this regrouping drive, based on observation of the market.
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