China central SOEs advance professional integrations

BEIJING -- China's centrally administered state-owned enterprises (SOEs) progressed in professional integration as the country speeds up SOE reforms.

A total of 17 central SOEs and four local SOEs signed contracts for professional integration in 11 sets of projects involving clean power generation, mineral resources, ecological environmental protection, and medical and health care, among others, according to a signing ceremony held by the State-owned Assets Supervision and Administration Commission of the State Council on Wednesday.

Through professional integrations in the ways of asset restructuring, equity cooperation, asset swap, gratuitous transfer, and strategic alliance, strong SOEs would enjoy more resources, which is of great significance to promote the high-quality development of the enterprises and the optimization and adjustment of the layout and structure of the state-owned economy.

The state asset regulator said it would strengthen the overall planning of professional integration of SOEs and prioritize the development of strategic emerging industries in the next step.

China has sped up the professional integration of its central SOEs, with 1,272 professional integration projects carried out in 2022, data from the regulator showed.