the minister in charge of the State Assets Management Commission, said that his
commission would focus on managing only 196 of the largest state-owned enter-prises
(SOEs) in China, Sould China Morning Post said. The other estimated 170,000 SOEs
would either he sold off or restructured by local governments. However, reform would
proceed cautiously to avoid fuelling unemployment.
Li's intention is to make the
remaining state-owned firms the most competitive busi-nesses in their respective
industries. To this end, the commission will come up with a new way to evaluate the
performance of SOF executives in a way that would enable rewards and punishment to he
linked to eco-nomic performance.
Minister sets out commission policy