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And so that’s why you see this. It’s a profound problem across local newspapers all around the country and in fact the world. So I had to do some soul searching and I said, is this something I want to get involved in? If I’m going to do it, I’m going to put some heart into it and some work into it. I decided I would only do that if I really believed it was an important institution. I said to myself, if this were a financially upside down salty snack food company, the answer would be no. But as soon as I started thinking about that way, I was like, this is an important institution. It is the newspaper in the capital city of the most important country in the world. The Washington Post has an incredibly important role to play in this democracy. There’s just no doubt in mind about that.

Angus Wardlaw, from Scotland, is an innovation engineer at leading shoe brand ANTA. He came to the company in January this year after working for Adidas in Germany for 15 years.

An official with the preparatory committee said they might welcome hi-tech industries such as 5G communications, bio-medicine, artificial intelligence and internet finance industries.

And it doesn't stop there. Tencent owns Clash of Clans maker Supercell and the smash hit King of Glory, and still makes the majority of its profit from gaming.

Analysts suggested policy makers adopt differentiated approaches as every SOE has its own characteristics, saying the reforms would be a long process, and not accomplished at one stroke.