| China's
SOEs to be less but better (11/10/2002)
The number of China's state-owned enterprises (SOE) will continue
to decrease, but their quality and performance will be further improved
in the years to come, said Li Rongrong, minister in charge of the
State Economic and Trade Commission, in Beijing Sunday.
Li was speaking at a press conference held by the press center
of the ongoing 16th National Congress of the Communist Party of
China.
"We don't have a specific quota for the proportion of the
state sector in the national economy, but it is certain that the
number of SOEs will further drop," Li said when responding
to a question on recent greenlight for foreign capital to participate
in the transformation of China's SOEs.
"The key for SOE development lies in their performance and
quality rather than the mere number," he said, adding that
he is optimistic about the prospect of SOEs' performance.
The Chinese government recently promulgated several new regulations
which allow state companies to sell state-owned shares to foreign
investors and standardize takeovers related to listed companies.
Such measures will help readjust the structure of the state sector
and expand the fundamental role of market demand in resource allocation,
he said.
(xinhua)
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