SASAC Hails “Weight Loss” of China’s State-owned Enterprises

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The authority for China’s state-owned enterprises (SOE’s) has touted the success of efforts to “slim down” the state-owned enterprise sector.

The State-owned Assets Supervisions and Administration Commission (SASAC) convened the “State-owned Enterprise Weight-loss Promotion Meeting” (国有企业瘦身健体专题推进会) on 1 March.

SASAC deputy-chair Weng Jieming (翁杰明) said that “in recent years SOE’s have achieved positive progress, employing multiple channels for the in-depth implementation of weight-loss.”

The meeting highlighted streaminling of the SOE sector during the five-year period from 2016 to 2021, including a reduction in the number of legal person central SOE’s of 19,965, accounting for 38.3% of all central SOE’s.

Weng said that efforts to streamline China’s SOE’s were ongoing, with “a considerable number of enterprises stilll engage in blind expansion.”