State-run enterprises in Haikou reformed

Strategic realignment of State-owned enterprises in Haikou is expected to be completed in the next five years, Xu Wei, director of State-owned Assets Commission of Haikou, said in an interview with China Daily.

By the end of 2007, nearly 160 State-owned enterprises in Haikou had been restructured, with many small and poorly managed operations closed and their workers moving on to new jobs.

"The city aims to cultivate a number of competitive State-owned companies," Xu said.