Xiao Yaqing, chairman of the State-Owned Assets Supervision and Administration Commission, said the commission will focus on three core areas in 2017: strengthen State-owned assets supervision, enhance risk control, and promote reorganization of centrally-administered State-owned enterprises (SOEs). This year will see further, deeper and wider reform on mixed-ownership economy, he added.

"The State-owned enterprises' reforms in steel, coal, heavy equipment and thermal power industry are inevitable. In 2016, the centrally-administered SOEs got rid of 2,730 legal entities, which resulted in improved efficiency at the administrative level. The effect of supply-side structural reform and successful reduction in excessive industrial capacity in steel and coal production was also witnessed last year."