Nation lists sectors critical to national economy
By Zhao Huanxin (China Daily)Updated: 2006-12-19 09:12 What are the key sectors critical to national security and the economic lifeline of China?
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It was the first time an explicit list was released of "strategically important sectors," whose definition has been vague since the late 1990s.
"State capital must play a leading role in these sectors, which are the vital arteries of the national economy and essential to national security," State Assets Supervision and Administration Commission (SASAC) Chairman Li Rongrong said yesterday.
"In these sectors, State-owned assets should expand in volume and optimize in structure, and some key enterprises should grow into leading world businesses."
Li is today scheduled to address a press conference arranged by the State Council Information Office to explain SASAC's progress and reform of State-owned enterprises (SOEs).
SASAC anticipates that between 30 and 50 large business groups capable of competing globally would emerge from the country's State businesses by 2010, according to earlier reports.
The commission was set up by the State Council three years ago to preserve, and enhance, the value of central SOEs.
Explaining the new guidelines on SOE reform published yesterday, Li said that the State should solely own, or have a majority share in, enterprises engaged in power generation and distribution, oil, petrochemicals and natural gas, telecommunications and armaments.
The State must also have a controlling stake in the coal, aviation and
shipping industries, he said.
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