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55 Percent of China's SOEs Out of Red: Official
About 55 percent of China's State-owned enterprises (SOE) have stopped losing money, a senior Chinese official said Thursday.
Zeng Peiyan, minister of the State Development Planning Commission, made the remark this morning while reporting to the ongoing 17th meeting of the Standing Committee of the National People's Congress (NPC), China's top legislature, on China's economic and social development in the first six months of this year.
According to the minister, by the end of this June, 3,625 of China's 6,599 money-losing SOEs are no longer in the red, after more than two years of efforts since Chinese Communist Party (CPC) Central Committee pledged to reform the SOEs and help SOEs out of red within three years.
NPC Standing Committee Chairman Li Peng presided over the meeting.
In the first half of the year, the minister said, China enjoyed a stable rural economy, marked growth in fixed assets investment, and smooth operation of major projects, as well as a number of good signs in many aspects.
For the second half of the year, the minister called on departments concerned to implement a positive fiscal policy, adjust and improve the structure of rural economy, deepening the reform of the SOEs, and create a fairer, and more competitive environment.
Zeng also pointed out that efforts should be made to promote the development of the non-state sector, further perfect the welfare system, make preparations for the country's entry into the WTO, improve the development of education, scientific and technological reform.
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