SOEs image & reality

How to improve the image of big State-owned enterprises (SOEs) has become a matter of concern for the State-owned Assets Supervision and Administration Commission (SASAC) when scandals involving some of these enterprises under its auspices have been exposed one after another.

Squandering of public money in headquarters building refurbishment and purchase of a lot of commercial houses at lower prices for employees have put in the limelight two petroleum giants - China Petrochemical Corporation (SINOPEC) and China National Petroleum Corporation (CNAC). Some other SOEs are exposed to be on the list of bribery cases under US judicial investigation.

However, a SASAC deputy director's suggestion for management of public opinion by improving and strengthening the information release mechanism of SOEs is vague on what it proposes to do about the matter.