SOE restructuring picks up momentum

The restructuring and streamlining of key State-owned enterprises (SOEs) is gaining momentum and the target of reducing their number to less than 100 could be met two years ahead of schedule.

The State-owned Assets Supervision and Administration Commission (SASAC) had planned to cut the number of major enterprises under its control from 157 to between 80 and 100 by 2010.

But the goal looks likely to be met by the end of next year, Wang Zhigang, with the SASAC research center, was quoted as saying by Xinhua.