China Youth Daily recently reported that, over the past two years, provinces in China have been working on designing new reform plans for state-owned companies. As of now, 22 provinces have released their plans and two provinces are about to release them. Only a few provinces (such as Tibet and Xinjiang) are still waiting for opinions from the central government. Some of the key features in those plans include introducing private capital into the mix of the ownership to replace full state ownership, making a public offering of the companies’ stock on the stock market, changing them from government asset management to capital management, improving regulatory systems, enhancing budget management, increasing securitization of the state ownership, looking at the human resources market for talent in company management, and adjusting company structures based on local needs.
Source: China Youth Daily, August 16, 2015