A TOP policymaker has called for State-owned enterprises (SOEs) to continue their overseas expansion despite the intensifying trade dispute with the United States and increasing scrutiny of Chinese firms abroad.

Weng Jieming, deputy director at the State-owned Assets Supervision and Administration Commission, suggested SOE expansion efforts via China’s Belt and Road Initiative.

“At present, 85 central enterprises have implemented about 3,000 projects along the Belt and Road,” Weng said in response to a question about how the trade war would affect the country’s SOEs.

“We will continue to support centrally-owned enterprises in the areas of infrastructure construction, equipment manufacturing and capacity cooperation, scientific and technological innovation, and also strengthen cooperation with governments and enterprises.”

Weng added that China’s SOEs are “independent market players” and downplayed the role of government subsidies in maintaining their operations.

“It can be said that Chinese laws and regulations do not specifically provide for subsidies for State-owned enterprises, and central enterprises do not have subsidies based on ownership,” Weng said.(SD-Agencies)