Yes - but deploying capital in the way that brings the greatest returns is the way to become rich. Many SOEs either break even or make little money, especially when considering their size.(feel free to do research on that). You are saying they wouldn’t want to sell off some of these/make them more efficient (by liquidating some of their holdings or by laying off people who aren’t doing anything so that they can’t deploy that new capital elsewhere?). Many SOE jobs’ main utility here (from the government perspective) is to dispense wages, have people employed and keep employment numbers up. I don’t buy that the real power in China loves the current state of their SOEs.