More reforms in pipeline for SOEs

China will prioritize and accelerate the restructuring of steel, coal and power businesses in its major State-owned enterprises to improve operational efficiency and enhance the profitability of State assets, the top State-owned assets regulator said on Wednesday.

Eager to crack hard nuts such as overcapacity, low commodity prices and financial losses, the State-Owned Assets Supervision and Administration Commission will deepen the reform of SOEs from these three priority sectors via business reshuffles, reorganization and mixed ownership reforms.

In addition to steel, coal and power, other sectors, including petroleum, gas, railways, telecommunications, civil aviation and military-related industries, will also be given priority to conduct mixed ownership reforms, said Xiao Yaqing, minister of the SASAC.