CHENGDU, Dec.21 (NBD) -- China National Petroleum Corporation (CNPC), the country's largest oil and gas producer and supplier, ratified guidelines on its market-oriented reform and its mixed ownership reform on Tuesday.

Speaking at the corporation's 15th session on comprehensively deepening reform on Tuesday, Wang Yilin, Chairman of CNPC, emphasized the importance of maintaining a balanced relation between planning and market-orientation in the reform and to boost the development of corporation in a coordinated manner through market-oriented mechanism.

Mixed ownership reform is a core issue of China's central government strategic deployment. According to China Central Economic Work Conference this year, mixed ownership reform is a key facet of state-owned enterprises reforms. It's been explicitly stated at the conference that mixed ownership will generate substantive progress in sectors such as power, petroleum, gas, railway and others. 

In accordance with China's central government's step toward mixed ownership, the newly passed guideline provides basic ideas, targets and principles for CNPC's mixed ownership reform, said Wang. 

Editor: Zeng Yunheng