日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Macro

China's SOE reform makes headway

Xinhua | Updated: 2017-08-29 14:25

BEIJING - Fresh progress has been made in China's State-owned enterprise (SOE) reform following a merger in the power sector.

A merger between China's major power generator China Guodian Corporation and coal producer Shenhua Group was approved by the State Council Monday.

The merger between the two power giants was in line with the country's aim to cut overcapacity in the coal and power sectors through restructuring SOEs.

Given there is prominent overcapacity in the power sector and discordance of upstream and downstream operations, the merger is not only a "masterpiece" of supply-side structural reform in the power sector, but also a way to smooth the relationship between the coal and electricity sectors, according to Zhang Jinxin from Beijing Jiaotong University.

Monday's merger came after two major steel SOEs, Wuhan Iron and Steel and the Shanghai-based Baosteel, announced restructuring plans in late June to reduce excess steel capacity and improve market competitiveness.

Mergers and restructuring will continue to take center stage in the reform and development of SOEs, and such reforms of centrally administered SOEs are accelerating, according to Li Jin, chief researcher with the China Enterprise Research Institute.

Li said that not only did the electricity and coal sectors see the possibility for mergers, but that the thermal and nuclear power sectors were weighing their options.

"Some SOEs, especially the heavy industry, energy and power businesses, have too much capacity, while there are others with capacity in short supply," he said.

China is resorting to SOE mergers to create more global powerhouses and avoid cut-throat competition, in addition to restructuring redundant industries to aid supply-side reform, Li said.

Deepening SOE reform is key to cutting industrial overcapacity. Such reforms are helpful in improving SOE governance in accordance with market rules, letting market forces play a fundamental role in allocating resources, according to experts.

There was no way out but to speed up reform in sectors like coal power generation, heavy equipment manufacturing and the steel industry, Xiao Yaqing, chairman of the State-owned Assets Supervision and Administration Commission (SASAC), said earlier this year.

Since mergers have been taken place in the coal power and steel industries, experts expect SOE mergers to happen in heavy equipment manufacturing sector.

SASAC has been actively restructuring SOEs this year in a bid to improve efficiency, with the number of central SOEs falling to 98 after Monday's announced merger, down sharply from 196 in 2003.

Besides mergers and acquisitions, China has made it clear loss-making "zombie enterprises" in glutted industries that cannot make a turnaround or counteract structural adjustment should be phased out.

To cut overcapacity, the key is to follow market rules, said Li Xiaohua, a researcher at the Institute of Industrial Economics of the Chinese Academy of Social Sciences, a leading think tank.

To improve its growth quality and efficiency, China began its supply-side structural reform in 2015 to cut overcapacity, reduce inventory, deleverage, lower costs and strengthen weak links.

"China's SOE reform is an important link in pushing forward supply-side structural reform," Li Jin said.

Realizing the significance of SOEs to the country's sustainable growth, China launched a series of reforms including cutting capacity, managing "zombie companies," cutting excessive layers of hierarchy and calling for innovation among firms.

This year, China pledged to deepen SOE reform in its annual government work report, introducing a mixed-ownership system and making SOEs more streamlined and efficient.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 日韩久久久久久 | 视频在线观看一区 | 国产午夜精品一区二区三区嫩草 | 波多野结衣精品一区二区三区 | 丁香花在线电影小说观看 | 欧美日韩视频 | 亚洲A片V一区二区三区有声 | 国产在线a视频 | 国产精品美女久久久 | 色天堂影院| 精品在线 | 91网视频在线观看 | 色婷婷色综合激情国产日韩 | 天天拍久久 | 国产区一区 | 天天人人精品 | 男女全黄做爰视频免费看 | 99热.com| 日韩中文网| 广西美女一级毛片 | 亚洲午夜网站 | 国产欧美日韩不卡一区二区三区 | 亚洲码在线 | 在线视频国产一区 | 在线成人免费观看视频 | 日韩精品福利视频一区二区三区 | 久久99视频 | 亚洲精品久久久久中文字幕二区 | 亚洲精品午夜国产va久久成人 | 无码AV免费一区二区三区A片 | 性欧美tube 精品 | 久久大综合| 国产高清在线观看 | 国产成人精品在线观看 | 久久国产a | 精品视频在线免费播放 | 成人一区二区三区 | 日韩av中文 | 国内精品伊人久久久久7777人 | 99精品一区二区免费视频 | 黄视频网站免费观看 |