17 January 2020

Govt planning SOE reform measures, paper says

The State-owned Assets Supervision and Administration Commission is drawing up measures to reform state-owned enterprises (SOEs) in line with a blueprint approved by the Communist Party Central Committee at its recent plenum, China Securities Journal reported Tuesday, citing an unnamed official. The reform is expected to include mega SOEs such as China National Petroleum Corp., the report said. The current two-layer system, in which SOEs are directly supervised by the commission, will have a third layer comprising state investment companies.

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