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China prepares to list 16 SOEs on market
By Lydia Chen |
January 6, 2011, Thursday
|
Online Edition
Online Edition
CHINA'S top state assets supervisor aims to get at least 16 state-owned companies listed this year in a bid to invite more funds to run these businesses that are previously closed to the market, a report said.
The move is part of the country's efforts to revitalize the state sector by market means and facilitate its economic restructuring, a key word for China's economic development in the next five years.
The potential listings are expected to be made at the mainland's A-share markets and Hong Kong Stock Exchange after China Reform Holdings Corp Ltd, a state-owned assets management firm, reshuffles some small SOEs and chooses the candidates, China Securities Journal reported today.
The companies will be more likely from industries that do not affect national security and are not crucial to national economy, the journal cited insiders as saying.
Small research institutions and merchandisers may top the list, the report added.
The State-owned Assets Supervision and Administration Commission, the supervisor, set up China Reform last month with a registered capital of 4.5 billion yuan (US$681 million) to handle the reform and merger of small, non-competitive SOEs.
The move is part of the country's efforts to revitalize the state sector by market means and facilitate its economic restructuring, a key word for China's economic development in the next five years.
The potential listings are expected to be made at the mainland's A-share markets and Hong Kong Stock Exchange after China Reform Holdings Corp Ltd, a state-owned assets management firm, reshuffles some small SOEs and chooses the candidates, China Securities Journal reported today.
The companies will be more likely from industries that do not affect national security and are not crucial to national economy, the journal cited insiders as saying.
Small research institutions and merchandisers may top the list, the report added.
The State-owned Assets Supervision and Administration Commission, the supervisor, set up China Reform last month with a registered capital of 4.5 billion yuan (US$681 million) to handle the reform and merger of small, non-competitive SOEs.
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