SOEs to exit real estate market

The State Assets Supervision and Administration Commission (SASAC) is mulling reform of State-owned enterprises (SOEs) under its supervision, which will push 78 of them to quit the real estate market, China Real Estate Business newspaper reported Tuesday.

SOEs that have real estate businesses will be at the center of the reform, as previous efforts to ask them to quit the real estate business have not worked well, the report said, citing people familiar with the matter.

Except for 16 centrally admini-stered SOEs whose core business is real estate, the other 78 -enterprises will speed up restructuring and pull out of the -property sector, the -SASAC had said in March 2010 but without giving a specific timetable.