China Deepens State-owned Enterprises Reform

GUANGZHOU, CHINA - MARCH 23: (CHINA OUT) Workers build the keel of a ship at the state-owned Guangzhou Fishing Vessel Shipyard on March 23, 2005 in Guangzhou of Guangdong Province, southern China. China's state-owned enterprises (SOEs) make up nearly 50 percent of the country's total industrial fixed assets and receive nearly 60 percent of the domestic bank loans each year, but they contribute merely to about one third of China's annual industrial output value.The Chinese government has speeded up to deepen the reform of its large state-owned enterprises and improve the economic structure, focusing on institutional innovation, corporate systems modernization, property rights diversification. There are approximately 150,000 SOEs with total assets worth more than RMB 11 trillion (USD 1.34 trillion) in China, according to official statistics. (Photo by China Photos/Getty Images)