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"So far, State-owned enterprises (SOEs) have achieved a satisfactory performance in meeting the government’s economic development goals."

Li Rongrong, minister of the State-owned Assets Supervision and Administration Commission (SASAC), commented on the role of the State assets regulator, which was set up was set up in 2003 to take control of the big SOEs by promoting mergers and acquisitions and by allowing poorly performing State firms to go bankrupt. The SASAC plans to cut the number of major companies under its control from 1,550 to between 80 and 100 by 2010.

"China needs to attract more investment, not just to get more funds, but to obtain the competitive strength associated with fund flows."

Jiang Zengwei, vice-minister of the Ministry of Commerce, at a forum in Chengdu, Sichuan Province, said that because of employment pressures, the need for better technical equipment and operators and for better corporate managers and management techniques, China should make better use of foreign investment in improving these areas of concern.

“Building our own brands is a major step toward improving our global competitive edge, and the promotion of self-motivated and innovative technologies will help to shift our exports from labour-intensive to value-added sectors.”

Zhang Xiaoqiang, vice-chairman of the National Development and Reform Commission, at a press conference, said the private sector is playing an increasing role in the national economy and creating more home-grown brands will be emphasised. More favourable policies that will support the domestic high-tech sector, especially for small and medium enterprises, can be expected.

"The establishment of the CIC is a landmark in deepening the reforms of China's financial system."

Lou Jiwei, board chairman of the China Investment Corporate Limited (CIC), said the CIC will maintain transparency in its company operations to safeguard its commercial interests. Inaugurated on September 29, 2007, the CIC was set up to make better use of the countryís foreign-exchange reserves.