18 July 2019

Shanghai aims to boost SOE strength with reform, Xinhua says

Shanghai’s state-owned enterprises (SOEs) reform is expected to enhance the contribution of those firms to central government coffers to 30 percent of their profit by 2020, Xinhua news agency reported Tuesday. The municipal government aims to boost the competitiveness of the SOEs in three to five years, with 80 percent of the state-owned capital invested in strategic industries, infrastructure construction and social sectors. The government will nurture two or three flagship asset management companies and 5-8 sizable international firms, the report said.

– Contact HKEJ at [email protected]



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