economy - State wants to stay in control

I already summerized yesterday a number of changes in China's economic policies, but the latest decision to keep the state in control of strategic industries might need a closer look. Tim Johnson already gave the overview from the China Daily.

The state media reported today that China would not cede its “absolute control” over defense industries, power generation, oil and petrochemicals, telecommunications, coal, aviation and shipping.
What’s more, the government wants large state-owned enterprises to remain or become heavyweights in sectors including machinery, automobiles, construction, iron and steel and information technology, according to this story in China Daily.

That is most certainly a change in tone and the range of industries involved is certainly huge. In the past foreign companies were often used in China as change agents, also to break the power of local cronies who would in real life run the show on behalf of the government. The text is still too vague - and will most likely remain that vague - to really makes sense out of it.