October 11, 2016 / 11:21 AM / 9 months ago

China will improve efficiency of state-owned enterprises, Xi says

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China's President Xi Jinping waves as he arrives at a news conference after the closing of G20 Summit in Hangzhou, Zhejiang Province, China, September 5, 2016.Damir Sagolj/Files

BEIJING (Reuters) - China will strengthen supervision of state-owned assets and improve the efficiency of state-owned enterprises (SOEs), state radio reported on Tuesday, citing President Xi Jinping.

Xi said the efforts of the ruling Communist Party on the SOE front should be focused on increasing their competitiveness and profits, and retaining and raising the value of state-owned assets.

Xi made the remarks during a two-day party work meeting on state-owned enterprises.

Reporting by Yawen Chen; Editing by Clarence Fernandez

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