Central government SOEs to be more involved in Belt and Road projects

The head of the State-Owned Assets Supervision and Administration Commission (SASAC) told reporters on Saturday that central state-owned enterprises (SOEs) are to play a greater role in the Belt and Road Initiative.

Xiao Yaqing made the announcement during a news conference about the reform and development of SOEs on the sidelines of the National People's Congress meeting in Beijing.

Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission of the State Council, attends a new conference on the reform and development of state-owned enterprises at the National People's Congress in Beijing on Saturday, March 9, 2019. [Photo: Xinhua]

The Belt and Road Initiative has been welcomed by a growing number of countries and regions because of its role in promoting growth in local economies and the job opportunities it provides, said Xiao Yaqing. And he said that SOEs are playing a greater role in supporting the initiative.

The Colombo Port City construction site in Colombo, Sri Lanka on August 23, 2018. The port construction project is backed by investment from China. [File photo: VCG]

The SASAC head said that SOEs taking part in Belt and Road projects should abide by internationally-accepted rules as well as local laws and regulations to ensure the quality, sustainability, and long-term profitability of the projects.

(Story includes material sourced from Xinhua.)