China’s central enterprises may drop to 60 or 80 after reform
SASAC will continue to restructure central enterprises but numbers are not the ultimate goal, said SASAC researcher Hu Chi
The number of central enterprises in China could drop to 60 or 80 after the next stage of reform, Hu Chi, researcher at the SASAC Research Center, told China Securities Journal in an interview.
The current number of central enterprises stood at 98 after the China Guodian Corporation and Shenhua Group announced their reorganization on August 28, under the new name of the National Energy Investment Group.
“Sixty to 80 is a generous number, the figures will differ from different analysts and is not an ultimate goal,” Hu said. “But there is one thing to be sure. Based on the positioning of SASAC, the process of central enterprise reorganization and integration certainly have not yet come to an end.”
Peng Huagang, Deputy Secretary General of SASAC, also stressed that the number is “not the ultimate goal” in reorganization, and that there will be no timetable or targets to follow for the next stage of central enterprise reform.
The next step will focus on the effect and quality of reorganization, to help reformed enterprises achieve strategic positioning and further push innovation and international competitiveness, Peng said.