SOE reform on track in provinces and autonomous regions

Employees from a subsidiary of China Shipbuilding Industry Corp install clean-energy equipment in Nantong, Jiangsu province. [Photo/Xinhua]

The reform of China's local State-owned enterprises (SOE) is on track in the country's provinces and autonomous regions, said Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission, on Tuesday.

Xiao further said that government will offer more guidance to promote the reform process in the regions.

Local governments attach great importance to SOE reform, and great progress has been made in many provincial regions, such as Shanghai and Guangdong, as well as Northeast China, Xiao said on the sidelines of the two sessions.

He said that while local reform considers enterprises' and regions' actual situations, some historical problems remain unsolved, and the internal impetus for some regions to reform is not stimulated yet.

"Therefore more efforts are required from the central government to supervise and urge local SOEs' reform process. Local SOE reform is a crucial part of China's SOE reform process, and more actions should be taken. It takes a while before the results of reform can be seen. We are confident that with joint efforts, new reform achievements will be made," Xiao said.