Vice Chairman Li Wei Met with the Under-Secretary of US Treasury

On October 30, Vice Chairman Li Wei met with Mr. Robert Steel, the Under-Secretary of US Treasury, in Beijing. Mr. Li Wei said that SASAC would persist in regarding market principles as guide, further promoting the reorganization of China’s SOEs and the readjustment of China’s State economy mainly by means of the joint-stock system reform. China’s SOEs need to draw the successful experiences from internationally famous large enterprises in many aspects, in such areas as corporate governance, self-innovation and the utilization of international financial market. Mr. Steel congratulated SASAC on its marvelous achievements acquired in such a short time. He also said that different countries adopted different approaches of development because each country had its own characteristics. It was consistent with China’s interest that China adopted the socialist market economy with Chinese characteristics. And China would be bound to reach the success in this regard. Both parties also exchanged ideas on the issues of the development of domestic and overseas capital markets and so on.