China Daily on August 23, 2017, quoted Li Jin, Chief Researcher at the China Enterprise Research Institute, as describing the merger of Real estate developer China Poly Group Corp with Sinolight Corp and China National Arts and Crafts Group as part of China's ongoing efforts to improve its State sector adding that it is more like a "big fish eating smaller fish", and could further reduce the resistance of State-owned companies to reform and raise competitiveness. He said the number of central SOEs could be cut down to 90, and more SOE restructuring plans are expected to gain approval, with the coal, steel, heavy equipment and thermal power sectors being top priorities. The State-Owned Assets Supervision and Administration Commission said on Monday that Sinolight and CNACGC will be merged into China Poly Group Corporation and become the latter's wholly owned subsidiaries. Sinolight and CNACGC will no longer be directly supervised by the State asset regulator after the merger, which brings the number of central SOEs down to 99, from 196 in 2003

(Comment: The Chinese government has repeatedly vowed to reduce the number of central SOEs to fewer than 100 as it accelerated restructuring and reforms to make SOEs more efficient and competitive. China has completed mergers among 30 central SOEs since late 2012.)