China's SOEs bring in huge social capital in past decade

BEIJING — China's State-owned enterprises have brought in over 2.5 trillion yuan ($373.56 billion) of social capital since 2013, an official said Friday.

Peng Huagang, a spokesperson for the State-owned Assets Supervision and Administration Commission, told a press conference that more than 70 percent of centrally administered SOEs and 54 percent of local SOEs are now mixed-ownership ones.

The SOEs have seen optimized ownership structure and corporate governance, Peng said.

China has been pushing forward mixed-ownership reform in its SOEs, which brings private investors on board to enhance their operational efficiency, optimize the capital structure, and improve competitiveness.

In the next step, the reform will be advanced steadily, Peng said, citing efforts to further improve SOE's governance structure, give full play to the positive role of strategic investors, and make the market-based operation mechanisms more flexible and efficient.