China's state asset regulator said it will set up a mechanism to give "bonus points" to state-owned enterprises that outperform national economic growth in their assessments.
The State-owned Assets Supervision and Administration Commission said at a meeting that it will start the assessment of market value management of listed companies, adding that it will quantitatively evaluate the market performance of listed SOEs directly owned by the central government.
This came after the authority said last week that it would study the inclusion of market value management in the performance assessment of executives of key SOEs.
Meanwhile, Chinese Vice Premier He Lifeng yesterday called for greater support for listed companies to help stabilize capital markets, the Xinhua News Agency reported, amid a protracted stock market rout.
In other news, China's Ministry of Finance said Chinese SOEs reported a 7.4 percent increase in net profit last year.
However, their debt ratio also climbed by 0.3 percentage points to 64.6 percent by the end of last year.
In other industrial news, revenue from China's auto manufacturing industry advanced 12 percent to about 10.1 trillion yuan (HK$11.2 trillion) last year, according to the China Association of Automobile Manufacturers.
State enterprises will have their performance on the market evaluated. Reuters
