China to promote reform in monopolistic industries

HONG KONG (AFX-ASIA) - China will prioritise further reform and restructuring of monopolistic industries in the tenth Five-Year Plan period (2001-2005), focusing on electricity, railways, civil aviation and telecommunications, Xinhua reported in a despatch from Beijing.	    The restructuring plan was announced by Wang Qishan, director of the Economic Restructuring Office of the State Council, at the two-day annual meeting of the China Development Forum, the news agency said.	    Wang said that the reform and restructuring plan aims to separate government from enterprise, introducing a competitive mechanism and innovation systems to enterprises. 	    The reforms will break up monopolized businesses and open them to competition except in areas concerning national security, natural resources, and a small number of public facility industries and public services, Wang said.	    Wang said the reforms will take place in accordance with China's "actual conditions," and will be carried out step by step. 

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