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China to Foster Large Enterprise Groups
China will make efforts to develop a batch of large corporations and group companies with strong international competitiveness, Li Rongrong, minister in charge of the State Economic and Trade Commission, said Tuesday in Shanghai.
Li made the statement at a meeting on reorganization of the Shanghai Baoshan Iron and Steel Corporation Group held by the commission in Shanghai.
Compared with famous multinationals, China's major enterprises and groups are lagging behind in terms sales value, market shares, research development, and management, the official said.
While entering the World Trade Organization, Chinese enterprises should build themselves into competitive corporations through technological innovations, reform on personnel system, use of foreign investment, industrial cooperation, reorganization and market listing, he added.
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