Zhang serves as new SASAC chairman

Zhang Yuzhuo, Party secretary of the State-owned Assets Supervision and Administration Commission of the State Council, has begun to serve as the State assets regulator's chairman, the commission's official website showed on Wednesday. SASAC is an ad hoc ministerial-level organization directly subordinated to the State Council, China's Cabinet.

Post-reform SOEs leaner, healthier

China has completed all the major tasks of its three-year (2020-22) action plan for the reform of State-owned enterprises, said the State-owned Assets Supervision and Administration Commission of the State Council. The administration said that China's SOEs have become leaner and healthier, their system to support technological innovation has been improved, and supervision over State assets has become more professional, systematic and law-based. The government pledged to plan and push for further reform in the SOEs to boost their core competitiveness and functions.