China to encourage SOEs to go listed as whole

• Source: Global Times
• [17:06 December 24 2010]
• Comments

China will encourage the centrally-administered State-owned enterprises (SOEs) to go listing as a whole, Wang Yong, head of the State-owned Assets Supervision and Administration Commission (SASAC), said Thursday at a meeting.

He emphasized that the SOEs that have had their main business already listed on the stock market need to strive to get listed as a whole via various kinds of measures. Those companies that have to be singly owned by the SOEs should undergo reforms, and the SOEs in other fields should attract various investors actively to achieve diversification of property.

In 2009, the SASAC issued a notice to encourage the SOEs to get listed as a whole, while the progress was slow, according to media reports. Data showed that by the end of July this year, 178 SOEs were willing to get listed as a whole, while only a few carried the intention onto action..

Also, according to him, although China did not realize the target of controlling the number of SOEs under 100 this year, it will continue to make efforts to build 30 to 50 world’s first-class competitive enterprises.