19 July 2019

SOE reform set to expand, paper says

China is expected to expand reform of state-owned enterprises (SOEs) from the oil sector to the power and telecommunications industries, Shanghai Securities News reported Wednesday, citing Ji Xiaonan, chairman of the State-Owned Large Enterprise Supervision Committee of the State Council. The government does not have to have majority shareholding in SOEs unless these are vital to the economy or national security, Ji was quoted as saying. Earlier, Sinopec chairman Fu Chengyu said private capital should be allowed to own more than 30 percent of shares in an SOE to ensure the success of the government’s SOE shareholding diversification program. 

– Contact HKEJ at [email protected]



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