China approves 160 SOEs in pilot mixed-ownership reform

Source: Xinhua| 2019-05-17 18:51:39|Editor: mingmei
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BEIJING, May 17 (Xinhua) -- China will involve 160 state-owned enterprises (SOEs) in its latest pilot mixed-ownership reform scheme, according to the country's top economic planner Friday.

The fourth batch of the pilot mixed-ownership reform program will include 107 centrally-administrated SOEs and 53 SOEs managed by the local authorities, said Meng Wei, spokesperson with the National Development and Reform Commission.

The pilot SOEs were selected not only in traditional key sectors such as electricity power, oil, natural gas and rail transportation but also in emerging industries like Internet, software and information technology services, according to Meng.

The total assets of the SOEs are more than 2.5 trillion yuan (around 0.36 trillion U.S. dollars), and 99 enterprises owns assets exceeding 1 billion yuan, accounting for 61.8 percent of the total.

So far, three batches of 50 SOEs with the pilot mixed-ownership reforms have been launched. Business performances of these enterprises have been significantly improved as the reform is an important breakthrough for SOEs reform, Meng said.