21 August 2019

Guizhou launches SOE reform, paper says

Guizhou province has launched reform in the moutai wine and coal sectors, part of a broader plan to diversify shareholding in state-owned enterprises (SOEs), China Securities Journal reported Tuesday. The reform involves Kweichow Moutai Co. Ltd. (600519.CN) and Guizhou Panjiang Investment Holdings Group Co. Ltd. which are expected to attract a combined 276.3 billion yuan (US$44.72 billion) of investment. Also spun off were 126 other SOE entities. Kweichow Moutai’s business will be hived off into supply, production and sales which will operate independently from one another. The new entities will explore mergers and acquisitions opportunities and seek public listing over time, the report said.

– Contact HKEJ at [email protected]



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