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State report urges SOEs to speed up restructuring

By Zheng Yangpeng | China Daily | Updated: 2012-10-25 07:47

State report urges SOEs to speed up restructuring

A central government report issued on Wednesday urged State-owned enterprises to accelerate their corporatization and concentration process to increase competitiveness.

Corporatization refers to the process of transforming a State-owned company into an entity with a corporate structure usually found in publicly traded companies, in order to adopt corporate management models.

The report, submitted to a bimonthly session of the top legislature, identified the underdevelopment of the companies' corporate governance models as the main problem faced by SOEs.

State report urges SOEs to speed up restructuring

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