China to boost SOE reform pilots

BEIJING - China has chosen two state-owned enterprises (SOEs) to pilot SOE reforms, an official said on Thursday.

More SOEs will be chosen based on the requirements of the reforms, said Zhang Xiwu, deputy head of the State-owned Assets Supervision and Administration Commission of the State Council.

The country will boost SOE reform pilots this year following the central government's plan for testing ten SOE reforms, Zhang said.

The reforms will cover payment distribution, investment of state-owned capital, mergers and reorganization.

The two companies are China Chengtong Holdings Group Limited, an assets management company, and China Reform Holdings Corporation Limited, a capital operating company.