The Chinese government intends to solve the problem of homogeneous competition among state-owned enterprises by restructuring them and integrating resources.
This was stated by Weng Jieming, vice-chairman of the State-owned Assets Supervision and Administration Commission of the State Council. These measures will help expedite the cultivation of world-class enterprises with efficient resource allocation, the official said.
Addressing a news conference in Beijing, the official stressed that central SOEs must put an end to blind expansion. Trade and dealings that are beyond the scope of their primary business and do not conform to strategic arrangements should be withdrawn or integrated with relevant central SOEs as soon as possible.
"The country will accelerate the cultivation of competitiveness in key sectors, such as inspection and testing, healthcare, equipment manufacturing, artificial intelligence, new energy, cloud computing, steel and logistics, as well as other strategic emerging industries in central SOEs,"
he added.
The nation had completed the reorganization of 47 central SOEs such as China Railway Rolling Stock Corp and Sinochem Holdings during the 2012-21 period, while establishing new central SOEs, including China Rare Earth Group, China Satellite Network and China Oil& Gas Pipeline Network
These moves have not only ensured the safety of key strategic resources and the development of the communication industry in the country, but also facilitated China's foreign trade and further prevented homogeneous competition, Weng noted.
Source: China Daily
