(Yicai Global) March 12 -- China welcomes foreign firms' participation in the mixed-ownership system of state-owned enterprises and will protect the interests of all investors, including voting and management rights, Xiao Yaqing, head of the country's state asset oversight agency, said at a press conference on March 10. 

More than 66 percent of central enterprises had realized the mixed-ownership system among their subsidiaries at all levels by the end of last year. Pilot reform has been implemented in many key fields, such as electricity, petroleum, natural gas, civil aviation, telecommunications and military projects, whose enterprises have introduced over 40 investors with capital of over CNY90 billion (USD14.3 billion), per data by the State-Owned Assets Supervision and Administration Commission.

The reform of the mixed-ownership system is still in the pilot stage and will encounter a variety of problems, Xiao conceded. However, the momentum of China's opening is unswerving, and the country is very glad to see the participation of outstanding foreign firms in the reform to a mixed-ownership system in SOEs.

The fundamental objective of deepening the SOE reform -- which started in 2015 --- is to cultivate world-class companies with international competitiveness, including ones which dominate the allocation of international resources, lead the global development of industry technologies and have the power of discourse on and influence the development of global sectors. China still needs to invigorate its opening and international cooperation to achieve this objective.

The nation is committed to protecting the rights and interests of investors and will ensure that all can exercise these entitlements when dealing with various affairs in mixed-ownership enterprises per their shareholding, Xiao said, addressing the rights of non-public shareholders.

He also called on foreign governments to treat Chinese concerns fairly and impartially when examining their investments and to maintain the irrevocable trend of economic globalization.

On these companies' recent proposed overseas acquisitions and investments subject to repeated examination and even rejection by foreign governments, this scrutiny is understandable, but Chinese firms -- including SOEs -- are independent market subjects that decide their own investments, so authorities abroad should examine them equally and without discrimination, he urged.