March 24, 2019 / 2:28 AM / 7 months ago

China state planner says will continue reform in oil, rail and electric

BEIJING (Reuters) - China will continue reform of railway, oil and gas, and electricity industries and cut overcapacity in others, a vice chairman of the state planner said on Sunday.

“We will carry on with reforms of the electricity, oil and gas, and railway sectors, and separate the network ownership and operations of industries with natural monopolies to fully introduce their competitive aspects to the market,” Ning Jizhe, of the National Development and Reform Commission, said at the China Development Forum.

He said China will push ahead to cut overcapacity in some industries, get rid of “zombie enterprises” and look to make effective investments in areas such as transport and telecoms.

Reporting by Brenda Goh; writing by Beijing Monitoring Desk; Editing by Sam Holmes and Neil Fullick

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