Shake-up of SOEs set to continue, says watchdog

More mergers and acquisitions in the pipeline, and bigger production capacity cutbacks envisaged

China will further push ahead with its restructuring of State-owned enterprises this year, cutting overcapacity and keeping the total number of key SOEs under 100, the country's top State assets watchdog said in a statement on Thursday.

A total of 10 State enterprises are currently in the middle of mergers and acquisitions, and several others are in the pipeline for similar restructuring in the second half of this year.