Highlights of news conference of SASAC

Special: NPC, CPPCC Sessions 2019

Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission (SASAC); Weng Jieming, deputy head of the State-owned Assets Supervision and Administration Commission, and Peng Huagang, deputy secretary-general and spokesman of the State-owned Assets Supervision and Administration Commission answered questions on reform and development of State-owned companies at a press conference during the second session of the 13th National People's Congress on March 9, 2019.

Here are the highlights:

SOEs want fewer trade frictions, more globalization

Chinese State-owned enterprises are willing to see fewer trade frictions, and SOEs will follow market rules to better promote trade globalization and opening-up and co-operation, said Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission, on Saturday.

SOEs operating revenues on the increase

Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission, is confident that State-owned enterprises will perform well this year.

Xiao unveiled data showing that State-owned assets' (SOE) operating revenues from January to February increased 3.9 percent year-on-year.

Meanwhile profits were up 15.3 percent in the same period, and Xiao said that he sees huge potential in China's market and economy, as well as SOEs' reform and development.

Central SOEs in 2018 recorded sales revenues of 29.1 trillion yuan, with net profits of 1.2 trillion yuan, an increase of 15.7 percent on last year, while the average debt ratio declined 0.6 percentage points, according to Xiao.