China is ready to launch pilot reforms for state-owned enterprises in 10 areas and open up competitive links of monopolized industries. [File Photo: gkzhan.com]
China has decided to open some monopolizes, like energy and power, as part of the country’s reforms on the state-owned enterprises.
Lian Weiliang, deputy director of the National Development and Reform Commission says that the aim is to let the market determine the prices.
The move comes after reform plans for electricity, oil and gas were submitted to the State Council for approvals.
At the same time, China is going to launch pilot reforms for SOEs in 10 areas next year.
The reforms will cover functions and powers of directors, management, investment, mergers and acquisitions, and information disclosure.
For more on the SOE reforms, CRI’s Shane Bigham spoke with Mike Bastin, Director of the China Business Centre at Southampton Solent University based in London.
