Reforms set to bolster SOE competitiveness

Progress expected for both public and private sectors in some crucial fields

China's efforts to deepen the reform of State-owned enterprises will foster a favorable environment to enhance their profitability and generate fresh business opportunities for private sector companies, said experts on Monday.

Their comments came as China vowed to define the functions of different types of SOEs, improve the management of their primary responsibilities and core business, and identify the key areas and orientations for such investment.

According to the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization, which was released on Sunday, State capital will be steered toward major industries and key fields seen as vital to national security and serve as the lifeblood of the national economy, including public services and strategic emerging industries.