China will strive to transform its state-owned enterprises into modern enterprises that meet the requirements of Chinese modernization, Zhang Yuzhuo, chairman of the State Council's Committee for the Control and Administration of State Property, said on Tuesday.
Central state-owned enterprises should adhere to the direction of reform market-oriented, rule of law and internationalization, improve the modern enterprise system with Chinese characteristics, accelerate the establishment of a flexible, efficient and market-oriented management mechanism, and enhance the core competitive advantages of enterprises and their core functions, said Zhang Yuzhuo.
State-owned enterprises are important actors and driving forces in promoting Chinese modernization, the official said, adding that they should take on new responsibilities and missions in promoting Chinese modernization.In 2020, China started to reality a three-year SOE reform action plan as part of ongoing efforts to transform SOEs into competitive and modern business entities. There are currently 98 SOEs in China.
