China's centrally-administered state-owned enterprises (SOE) have been cut down to 136 enterprises from 138, China's state property regulator State-owned Assets Supervision and Administration Commission (SASAC) said Wednesday.
With approvals from the State Council, China Textile Academy became a subsidiary of China General Technology (Group) Holding Limited and Chinese Academy of Agricultural Mechanization Sciences became a subsidiary of China National Machinery Industry Corporation, the SASAC said.
SASAC targets at reducing the number of centrally-administered SOEs from 80 to 100 by 2010 through merger and restructuring, sources with the commission said.
When the SASAC was set up in 2003, 196 centrally-administrated SOEs were under its supervision.
