China to lure foreign investment in state firms

BEIJING — China wants to attract foreign investment in its larger stateowned enterprises (SOEs), which are undergoing reforms to make them more competitive, the head of the country’s state asset regulator said. China began reforms in 2016 aimed at streamlining its lumbering SOEs by introducing private capital, curbing overcapacity, shutting down “zombie” subsidiaries and restructuring assets. Private and foreign firms should “actively participate in reform and development of central enterprises, and jointly explore ways of deep cooperation including mixed-ownership,” Xiao Yaqing, chairman of the State-Owned Assets Supervision and Administration Commission, said on the regulator’s website on Sunday. —