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China to further economic reform

Updated: 2012-03-06 09:01


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BEIJING -- China needs to continue deepening reform in an effort to give impetus to its further economic development, a top economic planning official said on March 5.

China has made great achievements since it started reform over three decades ago, Zhang Ping, minister in charge of the National Development and Reform Commission, told a news conference.

Zhang cited State-owned enterprises (SOEs) as fields in which China has pushed forward reform through transformation or mergers.

China used to have more than 190 SOEs owned by the central government. By the end of 2011, there were only 117 SOEs left, with 60 percent of these being transformed with modern corporation systems and some being listed, Zhang said.

China has been vigorously encouraging reform in other sectors such as finance, banking, medicine and health care, he said.

"During the course of reform, China needs to learn from other countries and take as reference the world achievements of civilization on the basis of its own situation. However, we must take our own road as reform is an unprecedented undertaking," Zhang said.

"Reform will be a major task and an important goal for a period of time," said the official.