China issues plans for state investments, speeding up disposals

[BEIJING] China's State Council issued guidelines to help optimize state investments to shore up its bloated state-owned enterprises amid an economic slowdown.

State capital investments will focus on national security, public welfare, strategic industries, major infrastructure and companies with "core competitive advantages," the nation's cabinet said in guidelines on government allocation of resources published late Wednesday.

The State Council pledged to clear obstacles for reforming state-owned enterprises, promote securitization of government holdings and accelerate the disposal of inefficient assets, according to the guidelines.

BLOOMBERG