State-owned enterprises donate big for virus fight

Centrally-administered State-owned enterprises, also known as central SOEs, have directly donated 2.26 billion yuan ($323 million) by Tuesday to win the battle against the novel coronavirus, according to information released by China's top State assets regulator.

Led by big donors including China Merchants Group, China Three Gorges Corp and the State Development and Investment Co, a total of 82 central SOEs have made donations via the account set up by the State-owned Assets Supervision and Administration Commission of the State Council and other channels.

China General Technology (Group) and China National Pharmaceutical Group Co have each given 1 billion yuan to establish funds to prevent the novel coronavirus from spreading.

Confronting a complex economic situation at home and abroad, Peng Huagang, secretary-general of SASAC, said a series of pragmatic measures will be adopted to ensure stable growth of State-owned enterprises this year.

He said measures mainly involve five aspects: revenue growth and expenditure reduction, risk prevention, science and technology innovation, supply-side structural reform and SOE reform.

The official stressed priority areas in SOE reform include establishing and improving a market-oriented management mechanism and advancing mixed-ownership reform.

A group of reform pioneers will be fostered to lead and set an example for SOE reform across the country, he said, adding the government will take adequate measures to maintain the smooth operation of SOEs in 2020 due to their key roles in economic and social development.