SOEs' restructuring set to advance

Steps taken to avoid repeated investments, competition overlap; accelerate growth of enterprising pioneers

China plans to advance the strategic restructuring and professional integration of its State-owned enterprises in 2023, especially in the areas of medical and health care, equipment manufacturing and mineral resources, government officials and experts said.

The industries of product testing, coal and electricity will also be included in the government's plan to further deepen the reform of its SOEs this year, according to the State-owned Assets Supervision and Administration Commission of the State Council.

These efforts are meant to help SOEs avoid duplication of investment and homogeneous competition in which companies offer the same products or services. It is also meant to help accelerate the growth of pioneers in modern industrial chains.