CNPC acts on market-oriented targets

China's oil giant China National Petroleum Corp said on Wednesday that it has implemented guidelines on reforms for a market-oriented economy and mixed-ownership.

"The reforms toward a market-oriented economy will help the company improve its products, pricing mechanism and services. We will further establish a market and benefit-centered investment, budget and assessment system," said Wang Yilin, CNPC chairman.

"The guidelines will help prioritize capital and the business structure while ensuring the maintenance and appreciation of State-owned assets," he said.