China will advance reforms in monopoly sectors

China will advance the market-oriented reforms in monopoly sectors within industries, such as energy and railways, said a senior financial official on Friday.

Speaking at a news conference in Beijing, Han Wenxiu, executive deputy director of the office of the Central Committee for Financial and Economic Affairs, said that China will deepen the reform of State-owned assets and enterprises and reinforce their growth strength.

Enhancing core functions and improving core competitiveness are essential, he said after the third plenary session of the 20th Central Committee of the Communist Party of China, which was held from Monday to Thursday in Beijing.

Han noted that it is also crucial to conduct the accounting works of the added value of the State-owned economy. State-owned enterprises should become sources of technological innovation.