Xi calls for furthering SOE reform

BEIJING - Xi Jinping called Wednesday for furthering reform of state-owned enterprises (SOEs) and making them "stronger, better and bigger."

Xi made the remarks in a report to the 19th National Congress of the Communist Party of China (CPC) at the Great Hall of the People in central Beijing.

"We will further reform of SOEs, develop mixed-ownership economic entities, and turn Chinese enterprises into world-class, globally competitive firms," Xi said.

He urged more efforts to improve the systems for managing different types of state assets, and reform the system of authorized operation of state capital.

"In the state-owned sector, we will step up improved distribution, structural adjustment, and strategic reorganization," he said.

Vowing to take effective measures to prevent the loss of state assets, the CPC will also work to ensure state assets "maintain and increase" their value," and support state capital in "becoming stronger, doing better, and growing bigger," Xi said.