18 January 2020

Chongqing steps up reform of state assets, paper says

Chongqing is stepping up reform of state-owned assets to boost efficiency, 21st Century Business Herald reported Thursday, citing unnamed sources. The local government is planning to transform its investment vehicles along the lines of Singapore’s Temasek sovereign fund. Also, it will establish an industrial fund to support mergers and acquisitions and diversify the shareholding structure of state firms by introducing private capital, the report said.

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