China plans new push to revamp state firms starting next year

BEIJING: China’s policy makers will unveil a three-year action plan in early 2020 on the reform of state enterprises, with an aim to improve the performance of the sector and create world-class champions, according to state-owned newspapers.

The plan will tighten how the performances of state firms, often referred to as SOEs, are evaluated, and also seek "new breakthroughs” in introducing more strategic private-sector investors, Hao Peng, head of the country’s state assets manager, was cited in the China Securities Journal as saying.