China to optimise supervision, promote reform of SOEs

China's state asset regulator will continue to optimize the supervision system and jointly promote the reform of centrally-administered stateowned enterprises (SOEs).

Efforts will be made to streamline administration and delegate power to stimulate the vitality of enterprises, according to a meeting held by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council from Jan. 11 to 12.

A three-year action plan on the reform of SOEs is expected to be rolled out to optimize the use of stateowned assets. Next, the mixedownership reform will be expanded and the cooperation with private enterprises will be deepened, said the SASAC.

Strategic restructuring and professional integration will focus on areas with overlapping investments and homogeneous competition, the regulator added.

The net profits of central SOEs expanded 9 percent year on year and their combined operating revenue rose 5 percent during the JanuaryNovember period last year, data from the SASAC reveals.

An explosion damaged a residential building in central Stockholm on Monday, police said, and while no injuries were reported it follows a wave of criminal bombings in the country.

facade, the front door demolished and broken glass and debris scattered on the ground.

Several nearby cars were also damaged by the blast, the cause of which was not known, in the affluent neighbourhood of Ostermalm.

"At this time it's not possible to say whether the explosion occurred in or outside the building," a police spokeswoman told newspaper Aftonbladet.

Authorities were alerted to the explosion shortly after 1:00 am local time (0000 GMT), and the building was evacuated shortly after.

A preliminary investigation has been opened into "devastation endangering the public."

Two hours later, around 3:00 am, another blast occurred outside a nightclub in Uppsala, some 70 kilometres (40 miles) north of Stockholm, although no link between the explosions has been established. No injuries were reported.