Date
24 September 2017

Shenzhen to unveil policies on state-assets reform, paper says

Shenzhen may soon roll out policies related to state-owned assets reform, with the municipal government likely to take an “open and innovative” approach, the 21st Century Business Herald reported Wednesday, citing sources close to the Shenzhen Bureau of the State-owned Assets Supervision and Administration Commission. As of the end of 2013, Shenzhen’s state-owned assets were said to be valued at 619.9 billion yuan (US$99.92 billion), with a net worth of 301.3 billion yuan. The state firms had operating income of 105.3 billion yuan and net profit of 22.2 billion yuan for the year, according to the report. Among the firms, 20 are listed in the A-share market, while three are listed in Hong Kong. The total worth of the listed companies’ assets was 60.9 billion yuan, with an asset securitization rate of 43 percent, the report said.

– Contact HKEJ at [email protected]

EL/AC/RC

 

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