Economy

Chinese vice premier urges SOEs to deepen reform

(Xinhua)
Updated: 2010-11-26 10:34

CHENGDU - Chinese Vice Premier Zhang Dejiang has urged the nation's State-owned enterprises (SOEs) to deepen reform and take real steps to transform the economic development pattern.

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"SOEs should push forward the process of mergers and acquisitions, and strengthen presence in some sectors while retreat from some others," Zhang said during his three-day visit to the southwestern Sichuan province which concluded Wednesday.

He urged enterprises to speed up development of strategically-important new industries, and promote self-innovation of key technologies to cultivate their own brands.

Outdated industrial capacity should be eliminated, he said.

Zhang inspected major State-owned steel, non-ferrous, airplane and auto producers in Sichuan, which was hit by an 8.7-magnitude earthquake in 2008.

He said local SOEs have made great achievements in reforming themselves since the quake happened, and urged better and faster development.