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UPDATE 1-China aims for breakthroughs in state-owned enterprise reforms - Xinhua
December 16, 2016 / 10:44 AM / 10 months ago

UPDATE 1-China aims for breakthroughs in state-owned enterprise reforms - Xinhua

(Adds details)

BEIJING, Dec 16 (Reuters) - Mixed-ownership reform is where China’s state-owned enterprises (SOE) can make breakthroughs on reforms, a top level economic work conference said, as reported by the official Xinhua news agency on Friday.

China will take substantial steps in mixed-ownership reform in electricity, oil, natural gas, railway, civil aviation, telecommunications and military industries, Xinhua said, citing a statement issued upon the conclusion of the Central Economic Work Conference.

Mixed-ownership reform could result in companies being partially privatised. Beijing has made reform of its huge, uncompetitive SOEs a priority as weak global demand weighs on economic growth and excess capacity and idle workers bleed what precious resources companies have at their disposal.

China will also step up protection of property rights, Xinhua said.

The country’s top leaders started the annual conference to map out economic and reform plans on Wednesday. The conference is keenly watched by investors for clues on policy priorities and economic targets for the year ahead. (Reporting by Beijing Monitoring Desk; Editing by Jacqueline Wong)

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