China Financial Daily

Chinese central SOEs restructuring efforts will continue to increase efforts
In recent years, China’s restructuring of the central enterprises to adjust significantly speeding up the 196 from 2003 adjusted to 136. Huang Danhua, deputy director of SASAC 31, said that in the future reorganization of the central enterprises to adjust the intensity will continue to increase.

Propaganda and ideological work in the central business meeting, Huang Danhua, said that after 30 years of reform, the central enterprises have gradually become the main competition in the market, the central enterprises and their subsidiaries face restructuring and reached 70%, a large number of central enterprises in the territory after the reform and overseas stock markets. Many enterprises have already become fully competitive enterprises.

She said that, while intensifying the adjustment and reorganization efforts at the same time, the central enterprises are also accelerating the pace of building a modern enterprise system, especially in the 24 central enterprises to carry out pilot work to establish a standardized board of directors since the corporate governance structure has been further improved.

Along with the development trend of economic globalization and the expansion of China’s opening level, the central enterprises to participate in international competition more extensively and intensively. The central enterprises to actively implement the “going out” strategy. According to statistics, as of the end of 2008, 104 central enterprises set up an overseas unit 4969, in which sub-enterprise 4141, institutions 828. A number of energy, construction, electricity, telecommunications, chemical industry, trade and other enterprises to actively explore the international market, carried out a series of strategic merger and reorganization.