China accelerates mixed ownership reform of SOEs: newspaper

Source: Xinhua| 2019-05-13 18:52:10|Editor: Xiang Bo
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BEIJING, May 13 (Xinhua) -- China has sped up mixed ownership reform of state-owned enterprises (SOEs), with the fourth batch of pilot SOEs list soon to go public, according to the 21st Century Business Herald.

The country has continuously pushed forward the mixed ownership reform of the SOEs, and the fourth batch will include over 100 enterprises, Peng Huagang, an official with the State-owned Assets Supervision and Administration of the State Council, told the newspaper.

In 2018, a total of 2,880 central and local SOEs conducted mixed ownership reform, Peng noted, adding that about 70 percent of centrally-administered SOEs and their subsidiaries now have mixed equity ownership.

The SOEs owned assets of 58.2 trillion yuan (8.56 trillion U.S. dollars) by the end of last year, with 7.2 trillion yuan belonging to minority shareholders.

From 2013 to 2018, the central SOEs have absorbed social capital worth over 260 billion yuan and raised more than 1 trillion yuan through the securities market, the newspaper reported.

Peng said that the country would expand the scale and field of the reform based on principles of marketing and protecting the property rights of all contributors.

Since 2016, China has selected 50 SOEs in three batches to conduct the pilot reform in fields including power, energy, civil aviation, telecommunications and defense.