SASAC official clears doubts over SOEs monopoly (2)

"Corporate problems are market problems, the government cannot help, and this is the same for the state-owned enterprises. Do not think that the government is supporting them. In fact, the state-owned enterprises will go bankrupt as a result of poor performance and no one can save them." He believes that now many SMEs are very competitive, and reformed state-owned enterprises are similar to private enterprises. They constitute the basis for China's international competitiveness.

Shao Ning said, during this decade, state-owned enterprises have developed well. Two facts have contributed to this: first, the Chinese economy is in a period of expansion, and the reform of state-owned enterprises is also an important factor.

He supported his words with figures: China's state-owned assets increased from 3.3 trillion yuan in 2002 to 22.5 trillion in 2012; net profit increased from 162.2 billion to 924.7 billion; paid taxes increased from 292.7 billion to 1.9 trillion yuan.

"The reform of state-owned enterprises is not over yet," Shao Ning said, after the reform it can explore greater potential and greater dividends.