Millennium Post

China now plans to reform public sector

Ahead of the once-in-a-decade leadership change, China on Wednesday announced plans for major reforms of public sector industries aimed at dismantling state monopolies.

China will stick to reforming its state-owned enterprises and helping them engage the market, Wang Yong, director of the State-Owned Assets Supervision and Administration Commission (SASAC) told the Standing Committee of the National People’s Congress (NPC), China’s national legislature.

The country will speed up reforms for the railway, postal and salt industries so that companies in those sectors can relinquish their roles as supervisors and stakeholders, Wang said.

‘More efforts will be made to reform the power, telecommunications, oil and petrochemical industries. Market entry into these sectors will be expanded based on the development of these industries,’ he said.

The government will push for large state-owned enterprises to go public or list their main businesses if conditions allow, Wang said.
PTI

PTI

Our contributor helps bringing the latest updates to you


Share it
Top