China reforms SOE ownership to achieve "decisive results" by 2020

Joint guidance issued today by the Communist Party's Central Committee and the State Council on reforms for State Owned Enterprises

• China to allow SOEs to bring in various investors to diversify their share ownership
• China aims to achieve "decisive results" in SOE reforms by 2020
• China to push restructuring at SOEs to pave way for stock listings
• will encourage private investors to participate in SOE reforms by
• will allow private investors to buy stakes at SOEs and buy convertible bonds issued by SOEs

Today's steps have been on the cards for a while and come nearly two years since President Xi Jimping called for market forces to play a decisive role in the better allocation of resources in the Chinese economy

Time will tell if it makes any significant difference.