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China will try to avoid layoffs amid state sector reforms - asset regulator

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China will try to avoid layoffs amid state sector reforms - asset regulator

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BEIJING (Reuters) – China will try to avoid layoffs as it presses ahead with reforms of its state-owned enterprises, Xiao Yaqing, chairman of the State-Owned Asset Supervision and Administration Commission (SASAC), said on Wednesday. “We hope there will be more restructuring and less bankruptcy…to let employees have more sense of gain – to have more job reallocation and fewer layoffs,” Xiao said during a briefing on the sidelines of the ongoing Communist Party Congress.

(Reporting by Chen Aizhu)
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