China will introduce a series of significant measures step by step
to push forward the on-going reform of its state-owned enterprises
(SOEs), a senior official said at the 2002 annual meeting of the
China Development
Forum, which opened Sunday morning.
Jiang Qiangui, vice-minister in charge of the State Economic
and Trade Commission, said the measures may touch upon the
issues of improving the state property management system, exploring
proper incentives fit for managers of large SOEs, and strengthening
the reform of the investment administration mechanism and
monopolized industries.
The SOE reform is a core part, and also a hard step, of China's
economic restructuring, and the reform of large SOEs is even more
difficult.
Great changes have taken place over the past 20 years both in the
setup of large SOEs and their relations with the government. But
the so-called large SOEs are not as powerful as large international
enterprises and multinational companies, Jiang said.
He
said efforts will be made to promote the development of large SOEs
to meet the new trend that emerges after China enters the World
Trade Organization (WTO) and the requirements of the market
economy.
This requires SOEs to operate according to internationally accepted
standards and sharpen their competitive edge, while calling for the
government to reduce administrative approval and the burden of
enterprises so as to create a favorable environment for fair
competition.
(
March 25, 2002)