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(单词翻译:双击或拖选)
China Unveils Plan for Streamlining SOEs
Latest measures announced by China's State Council are targeting a series of specific problems with SOEs, such as redundancy in employment, the overlap1 of corporations and their administrators2, as well as eliminating an oversized cluster of subsidiaries.
However, they all have one major goal: In order to be healthier, SOEs must lose weight.
One of the main goals is to reduce SOE's overcapacity, especially in steel and coal sectors3.
China's top economic planner, the National Development and Reform Commission, already announced plans to cut steel capacity by more than 100 million tons, and coal capacity by around 500 million tons by 2020.
Under this broader goal, a new short-term target has been set for China's SOEs.
Zhang Xiwu is an official with the State Council's department which supervises China's state-owned assets.
"We're going to cut SOEs capacity by 10 percent in steel and coal production by the end of next year."
Deepening administrative4 reforms are also a major goal in the government's current five-year plan.
While this reform is primarily aimed at improving the efficiency of all levels of government, SOEs are being targeted specifically.
Currently, most SOEs in China have anywhere from 5 to 9 levels of administrators.
The plan is to reduce this to 3 to 4 levels within the next 3-years.
Li Jin is the chief analyst5 with the China Enterprises Research Institute.
"We need to re-calibrate centrally-administered SOEs toward centralized production, toward key and core industries. This will help to promote efficiency and maintain growth."
It's estimated the new move to streamline6 the administrations will end up generating revenues of more than 15 billion US dollars for SOEs by 2017.
Around 350 large and medium-sized Chinese SOEs are said to be struggling financially at the moment.
The State Council is now planning to shut down one-third of them over the next 3-years.
For CRI, this is Ding Heng.
1 overlap | |
v.重叠,与…交叠;n.重叠 | |
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2 administrators | |
n.管理者( administrator的名词复数 );有管理(或行政)才能的人;(由遗嘱检验法庭指定的)遗产管理人;奉派暂管主教教区的牧师 | |
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3 sectors | |
n.部门( sector的名词复数 );领域;防御地区;扇形 | |
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4 administrative | |
adj.行政的,管理的 | |
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5 analyst | |
n.分析家,化验员;心理分析学家 | |
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6 streamline | |
vt.使成流线型;使简化;使现代化 | |
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