Chinese SOEs' BRI projects faring well

Projects undertaken by China's state-owned enterprises under the Belt and Road Initiative have been faring well and are playing increasingly important roles, the country's top SOEs regulator said Saturday.

The BRI is welcomed by a growing number of countries and regions as BRI projects have helped creat jobs and develop local economies, Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission, told a press conference on the sidelines of the annual legislative session.

Xiao said it is required by the commission that SOEs should abide by internationally accepted rules as well as local laws and regulations in BRI projects, to ensure the quality, sustainability and long-term profitability of the projects.

More action coming to promote SOE upgrades, reshuffling

More measures to promote structural optimization and reshuffling for China's State-owned enterprises are in the pipeline, said Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission, on Saturday.

The measures would include further facilitating strategic restructuring for SOEs in several areas, such as equipment manufacturing, ship manufacturing, chemical production, electricity generation, non-ferrous metal, steel, marine equipment and environmental protection.