SOEs to further reduce debt, strengthening performance

The regulator of State-owned enterprises vowed to further reduce SOE debt levels and continue mergers and acquisitions among SOEs. The moves are designed to optimize resource allocation and boost performance.

"The whole of society pays close attention to the performance of SOEs, and deleveraging is a national strategy we consider of great importance and implement continuously and attentively," said Peng Huagang, deputy secretary-general and spokesman of the State-owned Assets Supervision and Administration Commission. Peng spoke at a news conference on Thursday.

The commission has implemented M&As for 38 SOEs, reducing the number of central SOEs to 96, according to Peng.