Chinese Vice-Premier Wen Jiabao said on November 2China's monetary policy should play a greater role in promoting the reform and development of State-Owned Enterprise ( SOEs).

Wen urged personnel in the financial sector to map out concrete reform plans for SOEs. Addressing the Financial Work Committee's 12th Enlarged Plenary Session, Wen said that preferences should be given to key SOEs in terms of credit and loans and more financial support for high-tech enterprises and upgrading technology. "The debt-equity swap should be conducted immediately and in a careful manner to reduce debts, promote reform and liquidate bank assets," he said.

Securities market should be further regulated to create a good environment for the listing of qualified SOEs. Wen also called for further improvement of export credit insurance and active support in increasing exports for SOEs.

Wen also urged the financial sector to actively support developing China's west, focusing on infrastructure projects, ecological improvement and tapping natural resources and education. Financial institutions should also make it easier for small and medium-sized enterprises to obtain loans as long as they are profitable, he added.