Reforms to fuel speedy growth of State firms

SASAC planning more steps to ensure supply of basic goods and commodities China will push for "targeted integration" in the areas of grain storage, edible oil processing and maritime engineering within its centrally administered State-owned enterprises in the second half to improve their efficiency and the nation's grain security, according to the country's top State assets regulator. One of the government's key tasks in the second half is to guide and facilitate central SOEs' steady business growth, take actions to improve product and service quality as well as develop more growth points in the domestic market, said Peng Huagang, secretary-general of the State-owned Assets Supervision and Administration Commission of the State Council. In addition to announcing earlier this month the reorganization plans of mining enterprises Shandong Energy Group Co Ltd and Yankuang Group Co Ltd, the Shandong provincial government also unveiled last week restructuring plans for Shandong Hi-speed Group Co Ltd and Qilu Transportation Development Group Co Ltd, two locally-administered SOEs specialized in investment, construction, operation and management of transportation infrastructure. Central SOEs have not only played a vital role in assisting in China's battle against COVID-19, but also actively participated in other activities such as stabilizing job and export markets, supporting new infrastructure projects and taking part in poverty alleviation and flood control in the first half, said Li Jin, chief researcher at the China Enterprise Research Institute in Beijing.