China deepens SOE reforms, involving more market players

Workers perform production tasks at Harbin Turbine Company Limited of Harbin Electric Corporation in Harbin, capital of northeast China's Heilongjiang Province, April 10, 2023. (Xinhua/Wang Jianwei)

BEIJING, May 15 (Xinhua) -- Two special campaigns related to the reform of China's state-owned enterprises (SOEs) have expanded to involve more market players, according to the State-owned Assets Supervision and Administration Commission of the State Council on Monday.

In 2020, one of these campaigns was launched to support and guide state-owned science and technology enterprises to make new breakthroughs in market-oriented reform, and to improve their capacity for independent innovation.

The other campaign was launched in 2018, selecting over 100 subsidiaries of central SOEs and over 100 key local SOEs to explore and innovate in comprehensive reform.

There are 672 state-owned science and technology enterprises involved, as well as 580 subsidiaries of central and local SOEs.

The demonstrative and leading roles of special reform projects will be utilized further, the commission said.