More action coming to promote SOE upgrades, reshuffling

More measures to promote structural optimization and reshuffling for China's State-owned enterprises (SOEs) are in the pipeline, said Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission, on Saturday.

The measures would include further facilitating strategic restructuring for SOEs in several areas, such as equipment manufacturing, ship manufacturing, chemical production, electricity generation, non-ferrous metal, steel, marine equipment and environmental protection.

Xiao also encouraged more SOEs to increase their global presence.

Since early 2016 China has taken quite a number of measures to tackle SOEs' structural problems by selecting several batches of pilot State-owned companies and encouraging them to go through strategic reforms and reshuffling.