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COLOMBO Women's Bo Jackson Jersey , July 3 (Xinhua) -- A deal to lease Sri Lanka's southern Hambantota harbor to a Chinese firm will have broad benefits, such as boosting foreign exchange reserves and relieving pressure on the rupee, Minister of Ports and Shipping Mahinda Samarasinghe said, quoted by the local media as saying here on Monday.


The minister said an agreement with China Merchants Port Holdings to run the Hambantota port should be ready soon with a solution acceptable to both parties being reached after several rounds of talks.


"The importance of these talks is that it will be one of the largest FDIs (foreign direct investments)," Samarasinghe said.


"It is of paramount importance to get them, so we can build international reserves and use it to stabilize the rupee Women's Marshawn Lynch Jersey , control cost of living," Samarasingha added.


The minister said the project will also have a demonstration effect as this kind of mega investment will prompt other investors to look at Sri Lanka seriously.


In addition to the Hambantota Port, Sri Lanka and China will also set up an industrial zone in Hambantota which will be open to investors from all parts of the world.


The zone will create thousands of jobs for youth in the country and strengthen Sri Lanka's position as an investment hub.


China is one of Sri Lanka's largest development partners, investing billions of dollars in infrastructure development, ports, hospitals Women's Derek Carr Jersey , education and tourism in the island country.


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BEIJING, June 28 (Xinhua) -- With specific goals and a clear timetable, China is determined to improve the efficiency of state-owned enterprises (SOEs).


By the end of this year, China will basically have completely restructured SOEs, according to the 36th meeting of the Central Leading Group for Deepening Overall Reform.


A contemporary corporate system, which separates government administration from business operations Women's Khalil Mack Jersey , will allow SOEs function as efficiently as other business entities, according to Li Jin, chief researcher with the China Enterprise Research Institute.


According to the State-owned Assets Supervision and Administration Commission (SASAC), over 90 percent of subsidiaries of central SOEs had already been restructured by the end of 2016, while the ratio reached over 90 percent for enterprises supervised by provincial-level state asset regulators.


"The corporate system reform has entered its final stage. The task is still an hard one and requires a great deal of hard work from both the SASAC and the companies," Li said.


A more efficient Amari Cooper Jersey , flexible, and market-oriented management mechanism is the groundwork for ownership reform of SOEs, said Peng Huagang, deputy secretary of the SASAC.


Mixed-ownership reform, diversifying the shareholding structure of SOEs, is likely to take off in the second half of the year.


According to the National Development and Reform Commission (NDRC) Howie Long Jersey , China's top economic planner, two groups SOEs, 20 in total, in industries ranging from electrical services to civil aviation are experimenting with mixed-ownership with private or even foreign investment.


"The scope of the third group will expand with priority given to enterprises in provincial-level regions," said an NDRC online statement last month.


The specifics of such ownership are likely to be clarified in the next few months, and companies in the oil and gas industries will be at the forefront Bo Jackson Jersey , reported the Xinhua-run China Securities Journal.


As part of mixed-ownership reform, employees of some SOEs are offered stocks as incentives, a scheme that will likely speed up and expand this year, the newspaper reported.


To make SOEs leaner and healthier, SASAC also plans to reduce the number of central SOEs to under 100 this year, with coal power Marshawn Lynch Jersey , steel, and heavy equipment manufacturing industries in the spotlight.


"Reducing the number itself is not the goal of restructuring. We care more about what the reforms will actually bring," said Peng. "We are not only seeking abrupt change, we are looking for a chain reaction."


SOEs reform specifically addresses overcapacity, poor corporate governance and low labor productivity that drag down profits.


In the first five months of this year, combined profits of SOEs was more than 1 trillion yuan (150 billion U.S. dollars) Derek Carr Jersey , up an astonishing 25.5 percent year on year, dwarfing the 1.7-percent realized in the whole of 2016, according to the Ministry of Finance.


As SOE reform continues, authorities must focus on such thorny issues as incomplete corporate governance systems and lack of internal controls, said Li.

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