Highlights of news conference of SASAC

Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission, attends a press conference on reform and development of State-owned companies for the second session of the 13th National People's Congress (NPC) in Beijing, March 9, 2019. [Photo/Xinhua]

SOEs operating revenues on the increase

Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission, is confident that State-owned enterprises will perform well this year.

Xiao unveiled data showing that State-owned assets' (SOE) operating revenues from January to February increased 3.9 percent year-on-year.

Meanwhile profits were up 15.3 percent in the same period, and Xiao said that he sees huge potential in China's market and economy, as well as SOEs' reform and development.

Central SOEs in 2018 recorded sales revenues of 29.1 trillion yuan, with net profits of 1.2 trillion yuan, an increase of 15.7 percent on last year, while the average debt ratio declined 0.6 percentage points, according to Xiao.

China to expand mixed ownership reform to more than 100 SOEs

China will expand the mixed ownership reform to more than 100 State-owned enterprises, an official with the country’s State-asset regulator said on March 9.

"There will be more than 100 SOEs in the fourth batch of mixed ownership reform, which will be pushed ahead in key areas," Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission of the State Council, said at a news conference on the sidelines of the annual legislative session.

Since 2016, China has selected 50 SOEs in three batches to conduct the pilot reform in fields including power, energy, civil aviation, telecommunications, and defense.

The first three batches have done a good job in exploring and experimenting with the means, equity ratio and governance structure of mixed ownership, Xiao said.

Next, China will create a sound environment for the reform so that enterprises of all kinds of ownership can realize integrated and common development, he added.