China will allow private investors to buy up to 15 percent stakes in state-own enterprises (SOEs), the official China Daily reported, as Beijing moves to leverage private funds to avoid having to bail out heavily indebted state owned firms.
Chinese leaders are gathered in Beijing this week to establish the economic blueprint for the next 10 years and the State-owned Assets Supervision and Administration Commission (SASAC), which administers more than a hundred of China’s biggest state-owned companies, has said reform of SOEs as a major area of focus.
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Pete Sweeney, Reuters via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/dd5UxVkoMiY/
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