China's centrally-administered state-owned enterprises (SOEs) have shrunk to 131 enterprises from 132, China's state property regulator State-owned Assets Supervision and Administration Commission (SASAC) said Tuesday.

With approvals from the State Council, China State Farms Agribusiness (Group) Corp. became a subsidiary of China National Agricultural Development Group Corporation (CNADC), China's largest state-owned agricultural enterprises.

The SASAC was aiming to reduce the number of centrally-administered SOEs to between 80 and 100 by 2010 through mergers and restructuring. It had 196 centrally-administrated SOEs under its supervision when it was set up in 2003.