March 9
Xiao Yaqing, head of State-owned Assets Supervision and Administration Commission
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Xiao Yaqing, head of State-owned Assets Supervision and Administration Commission, attends a press conference on reform of State-owned enterprises in Beijing on March 9, 2017. [Photo/Xinhua] |
On SOE revitalization
As reforms are implemented to revitalize inefficient, overstaffed State-owned enterprises (SOEs) and cut excessive industrial capacity last year, about 110,000 SOE employees were impacted -- some of them retired, some changed posts, and others' labor contracts were terminated. Part of their workload has been outsourced. All these people have been properly settled. Protecting the interests of SOE employees will be a major task in the next step. China will not experience another upsurge in layoffs like the one seen in the 1990s during the ongoing reform.
On SOE's role in global markets
To date, SOEs operate various businesses in 185 countries and regions and have got positive rewards in general. That is SOEs' new development direction -- to become internationalized and globalized. The government plans to strengthen SOEs' overseas investment in the following three fields -- institutional structure, regulated management, and accountability.
