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BEIJING - China is to launch pilot reforms for
state-owned enterprises (SOEs) in 10 areas in 2016, including ownership and
executive hiring policy, a senior official said Friday.
Peng Huagang, deputy secretary general of the
State-owned Assets Supervision and Administration Commission (SASAC) of the
State Council, made the remarks at a press briefing in Beijing.
The reforms will cover functions and powers of
directors, professional managers, investment, mergers and acquisitions,
information disclosure, among others, Peng said.
The reforms are part of an SOE guideline issued in
September to turn them into fully independent market entities with "major
reform in key areas by 2020, when SOEs are expected to be more robust and
influential and have greater ability to avoid risks."
China has about 150,000 SOEs, which hold over 100
trillion yuan ($15.5 trillion) in assets and employ more than 30 million
people. Any reform to the sector will have a significant effect on the economy
as a whole.
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