16 July 2019

Guangzhou to slash number of state-owned firms, paper says

Guangzhou aims to consolidate the number of state-owned enterprises (SOEs) in the city, currently 130, to about 40 in three years, Nanfang Daily reported Saturday, citing unidentified sources. As part of the plan, the Municipal Supervision and Administration Commission will reorganize the 67 SOEs under its direct supervision into just 33 firms, the report said. The commission is now drafting the rules to implement the plan, the sources were quoted as saying.

– Contact HKEJ [email protected]



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