More equity of SOEs will go to workers

China will conduct equity diversification at the group level in selected centrally administered State-owned enterprises and advance mixed ownership reform for SOEs in sectors that are fully competitive this year, the head of a top regulator said.

The government will enhance corporate governance for SOEs under mixed ownership, and carry out explorations on systems of special right stock, Xiao Yaqing, head of the State-Owned Assets Supervision and Administration Commission, said at a news conference during the first session of the 13th National People's Congress.

Xiao said China will systematically summarize the experiences from programs to pilot the granting of equity stakes to employees in mixed-ownership, State-controlled enterprises, as well as expand the coverage of these pilots and set up long-term incentive and restraint procedures.