China makes steady progress in SOE reform

BEIJING - China has made steady progress in mixed-ownership reform of State-owned enterprises (SOEs), said an official with the country's top state asset regulator Wednesday.

Non-state capital has been introduced to two-thirds of the central SOEs and more than half of the state capital was in the listed companies, said Weng Jieming, deputy head of the State-owned Assets Supervision and Administration Commission, at a news briefing.

As more flexible and efficient market operation mechanisms are being established, 91 listed companies controlled by 45 central SOEs have adopted an equity incentive scheme, Weng said.

The combined profits of central SOEs rose 6.9 percent year-on-year to 943.19 billion yuan ($133.35 billion) for the January-August period, said Weng.

Total revenue of central SOEs reached 19.4 trillion yuan during the period, up 5.4 percent from a year earlier.