Chinese state companies will dump some costly social burdens by 2018

Chinese government-run enterprises are on the verge of getting rid of some costly social functions such as water, heating as well as power supplies by 2018. That’s what the state asset regulator told on Monday. It’s going to be part of broader efforts aimed at rejuvenating its lumbering state sector.     

Beijing has decided to make its state companies more competitive and stronger. In a reform plan issued the previous year the government stated that it would give birth to multi-channel funding as well as  appropriate cost-sharing mechanisms to assist them in relinquishing their costly social burdens.

The vast majority of Chinese giant state companies left government departments, while many have retained the government's original social as well as administrative responsibilities, providing not only power and heat to local communities, but also retirement homes, schools, police services as well as pensions.

Chinese Internet regulator fines websites over reporting

China's Internet regulator has already fined several websites for violating Internet publication rules and also ordered them to rectify the pages running news stories built around on their own reporting.

Strict government rules limiting the publication online of so-called self-edited news as well as information have been mostly ignored, with many websites running reporting operations.

The enforcement of the rules proved to be the latest move by the administration of President Xi Jinping to strengthen the ruling Communist Party's firm grip on the overall flow of news as well as information.

Such websites run by Phoenix New Media Ltd's iFeng, Sina Corp, Netease Inc, Sohu.com Inc,  as well as  others had engaged in a series of actions seriously violating regulations and had a completely mean effect, as state media reported.

Those websites were ordered to thoroughly correct their wrongdoing. Sure, they couldn’t dodge administrative fines. 

Published in World economy

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