State assets watchdog has published its first core business list of 49 state-owned enterprises to improve their competitiveness and support their key role in national economy.

Director of State-owned Assets Supervision and Administration Commission Li Rongrong said Tuesday that the move is to unload the burden of these enterprises and encourage them to focus on their core business, China Radio International reported Wednesday.

Li also stressed that state assets should concentrate on key industries covering state security and basic sectors in China's economy such as oil and power production.

After some SOEs were listed on the stock exchange, their affiliates, mostly social welfare and service operations, were often regarded as money-losing burdens.

By the end of September, municipalities and provinces, including Beijing and Shanghai, had forced 775 companies to separate their secondary businesses from their core ones.

Source: CRIENGLISH.com