22 January 2019

Vinegar firm leads way in Chongqing SOE reform, paper says

Soy sauce and vinegar maker Chongqing Huanghuayuan Brewing Condiment Co., Ltd. plans to sell off more than half of the company in what could be a test run for other municipal-owned firmsto draw in private investment, National Business Daily reported Wednesday. Huanghuayuan is selling a 57.62 percent stake for 3.14 million yuan (US$513,000), according to the Chongqing Union Property Right Exchange. Under the terms of the offer, the buyer must be a seasoning-centered business with at least 10 million yuan in registered capital, or individuals with businesses boasting 40 million yuan or more in annual sales, the report said.

– Contact HKEJ [email protected]



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