Davos, Switzerland - Jan 22, 2019 (CCTV - No access Chinese mainland)
1. Various of logo of Davos forum, attendees

Davos, Switzerland - Jan 22, 2019 (CGTN- No access Chinese mainland)
2. SOUNDBITE (Chinese, dubbed in English) Xiao Yaqing, director, State-owned Assets Supervision and Administration Commission of State Council (partially overlaid with shot 3):
"You mentioned the word 'reform', for state-owned enterprises, reform should always take place. Because we, like any other company, we need to follow the rules of running a business and the rules of the market. So for us SOEs, the goal of reform should constantly suited to changes in the market. The direction of the reform has been set, but that doesn't mean reform will be accomplished with one stroke. Systemic changes will not take place overnight. We've already determined the direction and the goal of our reform in the long term, and that is, internationalization, marketization and legalization. We will push forward step by step but each enterprise is unique. We need to adjust the goals for each enterprise according to its characteristics, its position, its role and the changes in its operating environment. So each year we will make some progress and then overtime, it will snowball. So we should always keep reform in mind."
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3. Anchor
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FILE: Xinjiang Uygur Autonomous Region, northwest China - Dec 2017 (CCTV - No access Chinese mainland)
4. Various of oil rig
5. Various of workers installing oil drilling equipment

FILE: China - Exact Date and Location Unknown (CCTV - No access Chinese mainland)
6. Various of steel being produced

China's ambitious ongoing state-owned enterprise (SOE) reform will not be accomplished with one stroke and needs timely adjustments, the state assets regulator said Tuesday.

Xiao Yaqing, director of the State-owned Assets Supervision and Administration Commission of the State Council, said that reforms concerning SOEs should always take place and the goal of the reforms should be adjusted in accordance with rules of both the markets and the changes of the market.

"The direction of the reform has been set, but that doesn't mean that reform will be accomplished with one stroke. Systemic changes will not take place overnight," Xiao said.

Xiao continued to say that the direction and goal of the reform in the long term has already been determined, which is internationalization, marketization and legalization.

"We will push forward step by step but each enterprise is unique. We need to adjust the goals for each enterprise according to its characteristics, its position, its role and the changes in its operating environment. So each year we will make some progress and then overtime, it will snowball. So we should always keep reform in mind," said Xiao.

Xiao is in in Davos, Switzerland to attend the 2019 World Economic Forum Annual Meeting.