Date
26 September 2017

SOE reform measures to be unveiled after CPC plenum, paper says

Major steps to reform state-owned enterprises (SOEs) will be taken after the ongoing Third Plenum of the Communist Party of China’s 18th Central Committee, China Daily quoted Huang Shuhe, vice-chairman of the State-owned Assets Supervision and Administration Commission (SASAC), as saying. To pave the way for changes, private companies and investors may be encouraged to acquire larger shares in SOEs, the report said. The restructuring and upgrading of SOEs is at a crucial stage, Huang said, adding that further ownership diversification is “a high priority” that will benefit sustainable development of the economy. Bai Yingzi, director of SASAC’s enterprise reform division, was quoted as saying that “private investors can set up private equities to take over 10 to 15 percent of an SOE’s equity.” 

– Contact HKEJ [email protected]

CG/RC

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