China completes major tasks in three-year SOE reform

Chinese Vice Premier Liu He, also head of the State Council leading group for state-owned enterprise (SOE) reform, attends and addresses a teleconference, which was presided over by State Councilor Wang Yong, deputy head of the group, in Beijing, capital of China, Jan. 31, 2023. The conference on China's three-year project to reform its SOEs was held here Tuesday. (Xinhua/Zhai Jianlan)

BEIJING, Jan. 31 (Xinhua) -- The major tasks in China's three-year project to reform its state-owned enterprises (SOEs) have all been completed, according to a teleconference held here Tuesday.

Vice Premier Liu He, also head of the State Council leading group for SOE reform, attended and addressed the conference, which was presided over by State Councilor Wang Yong, deputy head of the group.

In the past three years, work has been done to integrate the leadership of the Communist Party of China with corporate governance in SOEs, highlight their role as market entities, and advance system reform, according to the conference.

The SOEs have become leaner and healthier, their system to encourage technological innovation has been improved, and supervision over state assets has become more professional, systematic and law-based, it said.

The conference pledged to plan and push for further reform in the SOEs to improve their core competitiveness and core functions.