CHINA-LEADERSHIP: STATE COUNCIL MEETING PROPOSES SOE REFORM
|
The State Council Executive meeting of September 18 also had SoE reform on its agenda. It decided that “The task of relieving SOEs of their obligation in undertaking social programs will be essentially complete this year” and that the “SOEs' non-essential business will be spun off at a faster pace, to enable them to better focus on growing their main business.” The meeting also promised to open up more space for private firms and said that “Market access will continue to be broadened”; “Power grid operators will continue to spin off competitive operations like equipment manufacturing"; “Oil and gas infrastructure will be made equally accessible to all businesses regardless of ownership type”; and“Private companies will be supported to participate in the construction of major railway projects.”
|