Mumbai: China will have "absolute ability
to control" key sectors of the economy, including
oil and telecommunication, even as the country opens
up to market competition, state television said.
state will retain absolute ability to control seven
key sectors that concern national security and economic
viability military industry, power and the power
grid, petrochemicals and oil, telecommunications, coal,
civil aviation and shipping," the report said.
Assets Supervision and Administration Commission (SASAC)
has started a restructuring process of the large government-owned
firms, aiming to halve the number of firms that have
wider control over the economy by the year 2010.
government aims to have 30 to 50 big enterprise groups
that that are internationally competitive, the report
plans to keep a tight hold on its markets even as it
works to build internationally competitive companies,
CCTV report on the guidelines for the shake-up said.
report did not provide further details on the type of
control the government plans to exercise.
report said the restructuring is aimed at streamlining
and improving the efficiency of China''s state-owned
enterprises that have very complicated corporate structures.