Date
24 October 2017

SASAC to further delegate power to SOEs, paper says

The state assets regulator will cut back its administrative function and delegate more power to state-owned enterprises (SOEs), Xinhua news agency reported Thursday, citing Chu Xuping, director of the research center of the State-owned Assets Supervision and Administration Commission. SOEs will enjoy increased autonomy in the hiring and firing of senior executives, scrutiny of operating earnings, salary management and in deciding incentive schemes, Chu was quoted as saying. By 2020, most of the SOEs will have diversified ownership with the state taking either a controlling stake, a minority stake or preferred stock in them, the report said.

– Contact HKEJ at [email protected]

KZ/AC/RA

 

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