The State-owned Assets Supervision and Administration Commission (SASAC) actively creates favorable conditions for promoting joint-stock system reform of large state-owned enterprises (SOEs) with diversified property rights and supports the whole listings of businesses of qualified SOEs.

The SASAC made the announcement in a news release provided at a press conference held here on Thursday.

The SASAC encourages enterprises to inject good core business assets to their listed companies via the methods of adding capital and issuing more shares as well as assets buyout so as to promote the healthy development of listed companies, according to the release.

The SASAC will speed up the establishment and improvement of boards of directors in SOEs, build up sound external director system, and refine corporate governance, it said.

The SASAC will improve the appointment system of corporate executives, realize board's responsibility to select management, and widen the range for public recruitment of senior corporate executives.

The reform of separating non-core businesses has been deepened, and the separation of enterprises' social obligations has been pushed ahead, the SASAC release said.

Source: Xinhua