Regulators to ramp up efforts to further support listed SOEs

The booth of COFCO, an SOE owning 16 listed companies, is seen during an agro-expo in Beijing. The government will inject high-quality assets, such as profitable innovation and high-tech related businesses, into listed companies owned by centrally administered State-owned enterprises to further enrich the content of its Three-Year Action Plan for SOEs, and bolster the real economy, said the country's top State-asset regulator on Wednesday. Central SOEs should systematically sort out the unlisted and listed resources, and gradually inject the existing high-quality assets from unlisted businesses into the listed companies in a planned way, based on the actual situation, said Weng Jieming, vice-chairman of the State-owned Assets Supervision and Administration Commission of the State Council. Apart from introducing strategic investors, Weng said the government will uphold central SOEs and locally administered SOEs to actively explore ways to introduce multiple State-owned strategic investors into their listed companies by selling existing stocks, introducing incremental stocks and swapping shares. Central SOEs' listed companies have contributed about 65 percent of the operating income and 80 percent of the total profit of the nation's central SOE system since 2020, according to government data.