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SASAC: adjustment and reorganization of central state-owned enterprises to intensify
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15:04, September 01, 2009

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The adjustment and reorganization of central state-owned enterprises (SOE) will continue to intensify in the future, said Huang Danhua, vice director of the State-owned Assets Supervision and Administration Commission under the State Council (SASAC), on August 31.

In recent years, the significant adjustment and reorganization of central SOEs has clearly accelerated, with the number of central enterprises adjusted from 196 in 2003 to 136 at present.

Huang said that following 30 years of reform, central enterprises have gradually become market entities open to competition. About 70 percent of these enterprises and their subsidiaries have been reconstructed, and a large number of them have been listed on domestic and overseas stock markets. Many of these enterprises have become fully competitive market entities.

She said that as well as intensifying adjustment and reorganization, central enterprises are also accelerating the construction of a modern enterprise system. In particular, since the pilot work to establish a standard "board of directors" was carried out in 24 central enterprises, their corporate management structures have been further improved.

Along with the continuing expansion of economic globalization and China's opening-up, central enterprises' participation in international competitions has also become significantly more extensive and intensive. Central enterprises are actively implementing the "going global" strategy.

According to statistics, as of the end of 2008, 104 central enterprises had set up 969 overseas branches, including 4,141 subsidiaries and 828 organizations. A number of enterprises engaged in energy, construction, electricity, telecommunications, chemical engineering, commerce and trade are actively exploring international markets, and carrying out a series of strategic mergers and acquisitions.

Huang said that facing these new situations, how to achieve cultural integration and successfully carry out publicity work following mergers and acquisitions remain key issues that central enterprises must address.

By People's Daily Online

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