China wants to build world-class SOEs

China hopes to build a group of world-class, role-model, State-owned enterprises that lead in high quality development, said Weng Jieming, deputy head of the State-owned Assets Supervision and Administration Commission, on Saturday during a media conference.

In the past, regulators paid more attention to the scale of a SOE's revenue, but for the next stage, more attention will be placed on SOEs' return on areas such as net assets, revenue margin, investment on research and development, and added value, so that a SOE will not only be a leader in terms of revenue scale, but stands out for development quality and efficiency, he said.

Weng also said the commission will roll out a 2019 list of authorizations and rights decentralized from the commission to SOEs with expanding scale, to meet requirements from the reform plan for the State-owned capital authorization management system, and to truly benefit SOEs.