March 13, 2018 / 3:50 AM / a year ago

China SASAC chief: Reform of northeast's state-owned firms will take time

BEIJING (Reuters) - Reform of China’s state-owned firms based in the country’s northeast will take time, the head of the country’s state assets regulator said on Tuesday.

Xiao Yaqing, chairman of the State-owned Assets Supervision and Administration Commission (SASAC), also told reporters that private firms are playing a bigger role in the world’s second-largest economy.

He said he is not concerned about competition between state-owned firms and private ones.

Xiao was speaking on the sidelines of China’s annual meeting of parliament.

Reporting by Muyu Xu, Shu Zhang and Se Young Lee; Editing by Richard Borsuk

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