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Report on State-Owned Assets Shows China's Reform Progress

A recent report on the management of state-owned assets (SOAs) showed China's reform progress.

The Standing Committee of the National People's Congress reviewed the report on the management of SOAs on Wednesday.

According to the report, total SOAs in non-financial enterprises had reached 210.4 trillion yuan (29.7 trillion U.S. dollars) by the end of 2018, while those in financial enterprises had hit 264.3 trillion yuan.

The country has further boosted the transparency and credibility of SOA management since the State Council reported on the condition of SOAs to the top legislature for the first time last year, said Bai Jingming, vice president of the Chinese Academy of Fiscal Sciences.

(www.chinaview.cn 2019-10-30)