Date
21 August 2017

Shanghai maps out more plans on SOE reform, paper says

Shanghai has mapped out more plans on state-owned enterprises (SOE) reform in a bid to boost the firms’ competitiveness, the China Securities Journal reported Thursday, citing local officials. Under the plan, Shanghai will encourage private capital into state firms through various routes, such as stake acquisitions, participation in private placements by SOEs, and financial leasing or franchising deals, it said. The city will also study the establishment of an investment fund with joint participation from state and private capital to promote mergers and acquisitions of local SOEs, the report said. Private capital will be allowed into the infrastructure and public utility sectors, it added.

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