SOEs' reform in northeast to take time, says head of regulator

Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission (SASAC), receives an interview after the fourth plenary meeting of the first session of the 13th National People's Congress (NPC) at the Great Hall of the People in Beijing, March 13, 2018.[Photo/Xinhua]

It will take time for the Stated-owned enterprises (SOEs) to complete the reform in the country's northeast region, said the head of the country's SOE regulator on Tuesday.

"The country values highly the enterprises in Northeast China, but Rome wasn't built in one day," said Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission (SASAC) on the sidelines of the first session of the 13th National People’s Congress.

"The SOEs in the region are sparing no effort in the reforming, and we have seen profound changes in those SOEs, such as Shenyang Machine Tool Co Ltd and Jilin Chemical Group Co Ltd.

"Just like any other SOEs, the reform will take time for the industry and the market to adjust, and it needs support from companies and enterprises of all different ownership," he added.