15 October 2018

Guangdong SOEs absorb 50 bln yuan in private capital, paper says

Ten state-owned enterprises in Guangdong province have introduced a combined 50 billion yuan (US$8.2 billion) of private capital as part of their restructuring, the China Securities Journal reported Friday, citing the local government. Another 100 billion yuan will be pumped into 54 other provincial state-owned projects this year, covering 13 industries like transport, communications, construction materials, power, tourism, real estate, finance, information technology as well as health and medical care, it said. Guangdong deputy governor Xu Shaohua was quoted as saying that the province aims to diversify the shareholding of over 80 percent of SOEs by 2020.

– Contact HKEJ at [email protected]



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