Singapore—China is expected to accelerate reform of its state-owned enterprises this year, and more details are likely be announced at the upcoming National People’s Congress meetings scheduled to start next week. State-owned Sinopec or China Petroleum & Chemical Corp., will itself unveil more reforms during the meetings, which officially start on March 5, company chairman Fu Chengyu said Tuesday. Sinopec had announced last week its intention to divest up to a third of its oil marketing business to social and private investment. The company did not provide a timeline for the sale but said the final divestment would depend on market conditions.
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