Private firms need a stable, level playing field, with state-owned enterprises acting as anchors for strategic industries, state-asset watchdog says.

China’s state-asset watchdog has urged the country’s state-owned enterprises to act as an anchor for strategic industries, while also calling for a predictable, level playing field for private firms – a combination it said was essential for building world-class businesses. Zhang Yuzhuo, chairman of China’s State-owned Assets Supervision and Administration Commission (SASAC), outlined Beijing’s latest push to strengthen both the state and private sectors in an article published in Community Party…

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