It is a strategic goal for China's national economy to nurture big giants and conglomerates with international competitiveness, said Shao Ning, vice chairman of State-owned Assets Supervision and Administration Commission of the State Council at a forum on the strategy of "go out" of Chinese enterprises. He vowed to cultivate Chinese multinationals through reform on big state-owned enterprises and creating favorable conditions for them.

He said big Chinese enterprises still had a long way to go before they can catch up with their international counterparts in terms of management, marketing, R&D, and products innovation. At present, most big Chinese enterprise are owned by the state. They have problems in corporate governance and internal mechanism transformation. Reform is the only solution to these problems so that they will "go out".

By People's Daily Online