关注股权多元化改制

China's top state-owned asset administrator said on Saturday that the country's state-owned enterprises brace for reforms focused on diversity of shareholding and other restructuring.

"We will further promote reforms in corporate system and shareholding system in the SOEs. Now some enterprises are not corporations because they were not registered according to relevant laws. In this case, we will diversify equities and actively promote the economic development with mixed ownership." said Xiao Yaqing, head of State Assets Admin. "We will push, forward adjustment and restructuring of the state-owned enterprises under the central government with the aim of optimizing industry layout. Last year, we re-organized 12 central SOEs and they worked well. This year we will make more efforts."

Xiao told the press that China needs to overhaul 106 SOEs directly run by the central government, to make them more competitive and efficient. Xiao also noted that China will not allow another layoff wave like the one seen in the 1990s. Back then there were similar reforms to revitalize inefficient and overstaffed state-owned enterprises. A host of Chinese officials have been saying that the SOE reform for the next five years focuses on mergers and acquisitions and channeling private investment to the state sectors, instead of letting SOEs go bankrupt. Economists say many SOEs now have more financial resources and capable executives to make the transition less drastic and painful.