China's State-owned enterprises should learn from private and foreign companies to be more "market-oriented", which is also the direction of the reform of SOEs, said Wang Yong, head of the State-owned Assets Supervision and Administration Commission.

"It is clear that being more market-oriented is what the SOE reforms should lead to," Wang, minister of the SASAC, said on the sidelines of the 18th National Congress of the Communist Party of China.

"We could learn from multinational companies and some privately owned companies at this point.