China issues guideline to deepen SOE reforms

The government will improve the competence of SOEs and turn them into fully independent market entities. [Photo/IC]

BEIJING - China's central authorities on Sunday issued a guideline to deepen reforms of state-owned enterprises (SOEs), the latest move from the authorities to invigorate torpid SOEs.

China will improve the modernization of SOEs, enhance state assets management, promote mixed ownership and prevent the erosion of state assets, according to the guideline released by the Communist Party of China Central Committee and the State Council.

The government will improve the competence of SOEs and turn them into fully independent market entities.

It will be a key framework document to guide and boost SOE reforms.