17 February 2020

Shandong unveils state assets reform plan, paper says

Shandong government has unveiled a draft plan on state assets reform, the China Securities Journal reported Tuesday, citing an unidentified source. Under the plan, on which authorities are now seeking public feedback, Shandong will diversify the shareholding of local state-run firms by introducing private capital, and step up efforts for stock market listings, it said. Local state-owned enterprises will be encouraged to invest in sectors such as public services, strategic emerging industries, modern services, and advanced manufacturing. Meanwhile, they will be prompted to exit from sectors suffering from excessive capacity, such as steel, coal and non-ferrous metals. The provincial government will also study a stock incentive scheme as well as a professional manager system to boost state firms’ efficiency, the report said.

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