HONG KONG. Sept 8: China plans to privatise 99 per cent of its troubled state sector, retaining only 800 to 1,000 enterprises engaged in key industries or with security applications, a Hong Kong report said yesterday. says AFP.

The state would completely divest itself of the other enterprises, though national, provincial and local administrations and agencies would be able to purchase stakes independently, the Apple daily quoted sources as saying.

China last week promised a "major breakthrough" in statesector reform, providing a sneak preview of policies to be unveiled at the coming 15th Communist Party congress.