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Move aimed at improving quality & performance of SOEs

Premier Li Keqiang has spoken about the reform of China’s State-owned enterprises at a State Council meeting saying the initiative aimed to improve quality and performance.

Premier Li said State-owned enterprises should take a leading role in the upgrading of industry as well as optimizing allocation of capital. Premier Li urged SOEs to speed up mergers and acquisitions and shake up insufficient assets. Premier Li also says SOEs should enhance their competitiveness and risk resistance ability and make contributions to China’s economic development.