Regulator wants SOEs to optimize their resources

China's State-owned assets regulator asked SOEs on Tuesday to take further steps in optimizing their resources.

"The goal, for them, is to better meet market demand and align with high-quality development that China is currently promoting," said Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission.

Xiao said that although China has made great progress in SOEs' structural reforms in key sectors such as electricity, oil and gas and railways, the country still has room for further improvements, as SOEs currently have problems like competing in a homogeneous market.

"We hope to see that more SOEs will optimize resources. A successful case is China Tower. The company just had its initial public offering last year and is expected to have more business growth," Xiao said.