Structural reform holds key to growth

Steel and aluminum companies have made progress, but oil firms lag behind

Nearly four years after President Xi Jinping vowed to shake up State-owned enterprises, 2016 appears to be another mixed story for oil and gas producers, steel-makers and aluminum smelters, with some grappling with declines while others are turning losses to profits or even beating earnings estimates.

Experts call for government and State-backed companies' determination to push for the ongoing reforms.