SDIC in vanguard of reform

Firm promotes new industries and spins off traditional assets

State Development & Investment Corp, China's largest State-owned investment holding company, said it will boost investment in innovative and emerging industries and overseas business to better serve the country's economic transformation and the Belt and Road Initiative.

SDIC, a leader in China's effort to reform State-owned enterprises, is seeking to optimize its business structure by increasing exposure to new industries such as alternative energy and high-end manufacturing while divesting itself of nonperforming assets in traditional industries with excess capacity, said Wang Huisheng, chairman of SDIC.