SOE reforms prove profitable

Nation's major State companies' profits up 26.5%

China's central State-owned enterprises saw their net profits surge 26.5 percent year-on-year to 226.4 billion yuan ($32.9 billion) in the first quarter of this year, thanks to measures including mixed ownership reform, the nation's top SOE regulator said on Thursday.

Shen Ying, chief accountant of the State-Owned Assets Supervision and Administration Commission, said the government will tighten State capital supervision, enhance risk control and deepen SOE reform, especially by carrying out reforms in steel and coal industries this year.