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China's central SOEs receive over 110-bln-yuan social capital in H1

Updated: Jul 28, 2020 Xinhua Print
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BEIJING -- China's centrally-administered state-owned enterprises (SOEs) received more than 110 billion yuan ($15.7 billion) of social capital through equity transfers, new joint ventures and mergers during the first half of the year, according to the country's state-asset regulator.

China's central SOEs made strides in mixed-ownership reforms and state capital investment during the first half, said Peng Huagang, spokesperson for the State-owned Assets Supervision and Administration Commission of the State Council.

Authorities are ramping up efforts to revitalize SOEs which have been burdened by outdated corporate social responsibility practices.

China will complete the task of relieving SOEs of the obligations to operate social programs, and resolve their other longstanding problems this year, according to the annual government report released in May.

The commission will push central SOEs to advance mixed-ownership reforms and improve modern corporate system during the second half, Peng said.

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