SOEs to absorb private capital

State-owned enterprises should absorb private capital in their restructuring, said the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in an article published on Qiushi magazine.

The article said large state-owned enterprises should lead the development of both state-owned and private firms, actively introduce strategic investors and get their core businesses listed.

According to the article over 72.1 percent of centrally-administered state-owned enterprises and their affiliated enterprises have carried out restructuring by now, compared with 30.4 percent in 2002. Currently, more than 90 percent of state-owned enterprises have restructured.

As of the end of June 2011, 359 firms controlled by central enterprises have gone public, either in the A-share market or overseas markets. And 54.07 percent of central enterprises' total assets, 68.67 percent of net assets, and 60.4 percent of operating income are in their listed arms, the article said.