Central SOEs reform will be done in 2017

Modernized structure to help clear institutional barriers

With some exceptions, China will include all central State-owned enterprises that have not been reformed in a modern corporate system by making them legal persons by the end of this year. The exception will be those in the financial and cultural sectors. The move is expected to help clear away institutional barriers for further SOE reform.

The move, giving corporations the same rights and responsibilities as people, was announced by the State Council on Wednesday.