Li chairs meeting that endorses reform, backs creation of level playing field China is ready to give continued, unswerving support for the reform
and development of State-owned enterprises and private businesses, the
State Council's executive meeting, chaired by Premier Li Keqiang,
announced on Thursday. The meeting called for solid steps in
implementing the three-year action plan for SOE reform, and to create a
level-playing field for private firms. SOEs need to make continued efforts to achieve higher quality and
efficiency, and sharpen their core competitiveness so as to improve
their role in underpinning the national economy, those at the meeting
urged. "We will continue to unswervingly consolidate and develop the public
sector, and unswervingly encourage, support and guide the nonpublic
sector. SOE reform needs to achieve higher quality and efficiency, help
facilitate deeper cooperation between the industrial and supply chains
and enhance SOEs' core competitiveness," Li said. Solid steps will be taken in implementing the three-year action plan
for SOE reform. The task of relieving SOEs of their obligation to
undertake social programs will be essentially completed this year, and
their nonessential businesses will be spun off at a faster pace to help
them better focus on growing their main business. Greater efforts will be made in deepening mixed-ownership reform,
strengthening the modern corporate structure and developing sound
market-oriented operating mechanisms. The meeting also underlined the importance of private businesses and
spelled out key policies to facilitate growth of the private sector. A level-playing field for private firms will be created to boost
employment. Market access will continue to be broadened. Power grid
operators will accelerate spinning off competitive operations, such as
equipment manufacturing. Oil and gas infrastructure will be made equally
accessible to all businesses regardless of ownership type. "We must stabilize the growth of the private sector with all possible
means. The private sector contributes over 90 percent of new jobs. It
is remarkable for a country with 1.4 billion people to achieve fairly
full employment," Li said. Private companies will be supported in participating in the
construction of major railway projects and the development and operation
of passenger and freight stations. Key national research infrastructure will be made more accessible to
the private sector. Accreditation of national-level technology centers
in private companies will be accelerated. Channels for private business
employees to get professional qualifications will be unclogged. Financing support for private businesses will be facilitated. Local
governments will be encouraged to establish risk-sharing mechanisms for
loans made to micro, small and medium-sized companies.
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