The State-Owned Assets Supervision Administration Commission (SASAC) of the State Council of People's Republic of China held a meeting on economic development and transformation of SOEs on 14 July, 2016.

First, the management system and documentation system of transformation has been launched, with the establishment of “1+N”policy system. China Merchants Group and other state-owned companies are entitled as the bases of state-owned capital investing companies, which indicates the pilot projects have been fully implementing.

Besides, perfecting the modern enterprise system has been speeding up, covering 17 provinces. Especially, the management system is currently market-oriented. Government is also promoting the structural change in terms of supply. 10 state-owned companies have been restructuring. Moreover, capital-based regulation on state-owned companies has been proved effective, with the coverage of centralized regulation exceeding 90% nationally.