Chinese vice premier stresses deepening SOE reform

Chinese Vice Premier Zhang Guoqing, also a member of the Political Bureau of the Communist Party of China Central Committee, addresses a teleconference on preparations for a campaign to deepen and upgrade state-owned enterprise (SOEs) reform in Beijing, capital of China, July 18, 2023. (Xinhua/Yin Bogu)

BEIJING, July 18 (Xinhua) -- Chinese Vice Premier Zhang Guoqing Tuesday urged solid progress in a campaign to deepen and upgrade state-owned enterprise (SOEs) reform.

Zhang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks while addressing a teleconference on preparations for the campaign.

The campaign should aim at serving national strategies and focus on boosting core competitiveness and functions, Zhang said.

He stressed improving the performance assessment system for SOEs to foster innovations and help achieve greater self-reliance and strength in science and technology.

He said the structure of the state-owned economy should be optimized to support building a modern industrial system, and SOE roles should be strengthened in primary areas, including energy, resources, and grain production.

Zang added efforts should also be made to improve a state-owned asset oversight system with a capital management focus and modernize SOE corporate governance.