China will solve the issues of homogeneous competition and redundant

construction among centrally administered State-owned enterprises through

professional integration as part of efforts to expedite the cultivation of

world-class enterprises with efficient resource allocation, said a senior

government official on Tuesday.

The government will speed up the effective integration of resources among

central SOEs and carry out an in-depth restructuring of same or

homogeneous businesses, said Weng Jieming, vice-chairman of the State-

owned Assets Supervision and Administration Commission of the State

Council.

Addressing a news conference in Beijing, the official stressed that central

SOEs must put an end to blind expansion. Trade and dealings that are

beyond the scope of their primary business and do not conform to strategic

arrangements should be withdrawn or integrated with relevant central SOEs

as soon as possible.

"The country will accelerate the cultivation of competitiveness in key

sectors, such as inspection and testing, healthcare, equipment

manufacturing, artificial intelligence, new energy, cloud computing, steel

and logistics, as well as other strategic emerging industries in central SOEs,"

he added.

The nation had completed the reorganization of 47 central SOEs such as

China Railway Rolling Stock Corp and Sinochem Holdings Corp Ltd during

the 2012-21 period, while establishing new central SOEs, including China

Rare Earth Group Co Ltd, China Satellite Network Group Co Ltd and China

Oil& Gas Pipeline Network Corp, SASAC said.

These moves have not only ensured the safety of key strategic resources and

the development of the communication industry in the country, but also

facilitated China's foreign trade and further prevented homogeneous

competition, Weng noted.

Feng Bo, vice-president of Shanghai-based China COSCO Shipping Corp

Ltd, the country's largest shipping service provider by fleet size, said the

company will combine the national strategy and enterprise development

vision together to consolidate the stability of China's industrial and supply

chains, and focus on shipping, ports and logistics businesses to compete

with global rivals.

China COSCO Shipping Corp Ltd, which was created by merging the

erstwhile China Ocean Shipping (Group) Co and China Shipping (Group)

Co in 2016, restructured more than 1,600 domestic and overseas units in

more than 160 countries and regions, and established scale advantages and

exerted synergistic effects within a short term. Its exported container volume

accounted for about 15 percent of China's total in this area in 2021.

By taking over 339 hospitals from 20 central and local SOEs, including

Aviation Industry Corp of China Ltd and State Grid Corp of China, since

2018, China General Technology (Group) Holding Co Ltd (Genertec),

currently manages 45,000 hospital beds with more than 50,000 doctors and

nurses across 26 municipalities, provinces and autonomous regions.

Lu Yimin, president of the Beijing-based group, which focuses on three

pillar businesses including medical and healthcare, said the restructuring of

these SOE hospitals will help Genertec conduct resource integration to

better support the country's call to promote the Healthy China 2030