While state-owned enterprises (SOEs) continue to dominate the energy sector, mixed
ownership and investment diversification is being pursued in a number of areas. On July 15,
2014, the State-owned Assets Supervision and Administration Commission (SASAC)
selected eight national SOEs to implement mixed-ownership and management reforms.5
Meanwhile, CNPC and Sinopec have started their own mixed-ownership reform initiative.
Sinopec announced it will open its retail business for private investors, and CNPC has
announced it will strip off its core pipeline assets. Allowing private investors, including
foreign investors, to take a minority stake in SOEs could promote transparency, improve
governance and speed technology transfer. At the same time, skeptics have noted the