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Beijing Said to Cultivate Bigger SOEs

12-16 17:36 Caijing Magazine

Full article in Chinese: http://www.caijing.com.cn/2008-12-16/110039653.html

The pace for mergers and restructuring may hasten in 2009, according to Chairman Li Rongrong of SASAC, the state assets supervisor. Li made such a statement at a meeting with heads of state-owned enterprises December 15. As of 2010, the number of SOEs will reduce to 100 and even 80 from roughly 140 as of today. Li reaffirmed his ambition that there should be 30 to 50 SOEs to become globally competitive enterprises.


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