China will push for "targeted integration" in the areas of grain storage, edible oil processing and maritime engineering within its centrally administered State-owned enterprises in the second half to improve their efficiency and the nation's grain security, according to the country's top State assets regulator.
One of the government's key tasks in the second half is to guide and facilitate central SOEs' steady business growth, take actions to improve product and service quality as well as develop more growth points in the domestic market, said Peng Huagang, secretary-general of the State-owned Assets Supervision and Administration Commission of the State Council.
The official said SASAC will optimize central SOEs' resources to develop both global and domestic markets, ensure the supply of basic goods and commodities, maintain the safety of industry and supply chains and strive to achieve quality and efficient economic growth in the second half.
SASAC will also adequately increase its encouragement and support for the stable growth of central enterprises, innovation activities and major projects in terms of performance appraisal and salary distribution, he added.
Local governments have already announced their plans to reorganize and introduce mixed-ownership reform into their SOEs to better optimize the structure of State assets and maximize social capital to diversify their marketing and financing channels.
In addition to announcing earlier this month the reorganization plans of mining enterprises Shandong Energy Group Co Ltd and Yankuang Group Co Ltd, the Shandong provincial government also unveiled last week restructuring plans for Shandong Hi-speed Group Co Ltd and Qilu Transportation Development Group Co Ltd, two locally-administered SOEs specialized in investment, construction, operation and management of transportation infrastructure.
The Heilongjiang provincial government will conduct mixed-ownership reform in 170 projects, especially in vital sectors and key enterprises in its SOE system over the next three years, it said in a recently released SOE reform plan.
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