China recently unveiled long-awaited guidelines to overhaul bloated state-owned enterprises SOE, the latest move from Beijing to reinvigorate the sector amid the Chinese economy’s slowest growth in 15 years.
The guidelines, issued on September 13 by the ruling Communist Party and the State Council, call for more private participation and management changes in SOEs, with the goal of modernising and improving efficiencies.
“The SOE system should be more market-oriented and corporate-centeredIt should aim for higher economic vitality, higher control, greater influence and SOEs will be more risk-resistant,” the guidelines said.
China currently has approximately 155,000 state-owned companies. About 113 of...