Date
16 December 2017

Guangzhou set for further SOE reform, paper says

Guangzhou is preparing for the next stage of reform of its state-owned enterprises (SOEs), Shanghai Securities News reported Thursday. Eight major tasks are planned for the next round of restructuring including debt reduction, tighter oversight, improved asset valuation and increased innovaton, provincial state asset chief commissioner Huang Weilin was quoted as saying. In August, the municipal government increased the number of SOEs under its jurisdiction to 130 from 28. It plans to securitize 60 percent of their assets, the report said.

– Contact HKEJ [email protected]

TL/AC/RA

 

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