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China state planner says will continue reform in oil, rail and electrity

Ning Jizhe said China will push ahead to cut overcapacity in some industries, get rid of “zombie enterprises” and look to make effective investments in areas such as transport and telecoms.

China will continue reform of railway, oil and gas, and electricity industries and cut overcapacity in others, a vice chairman of the state planner said on March 24.

“We will carry on with reforms of the electricity, oil and gas, and railway sectors, and separate the network ownership and operations of industries with natural monopolies to fully introduce their competitive aspects to the market,” Ning Jizhe, of the National Development and Reform Commission, said at the China Development Forum.

He said China will push ahead to cut overcapacity in some industries, get rid of “zombie enterprises” and look to make effective investments in areas such as transport and telecoms.

Source: https://www.moneycontrol.com/news/world/china-state-planner-says-will-continue-reform-in-oil-rail-and-electrity-3691091.html

“We will carry on with reforms of the electricity, oil and gas, and railway sectors, and separate the network ownership and operations of industries with natural monopolies to fully introduce their competitive aspects to the market”

 

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