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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1558)	11/19/2003 8:51:18 AM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China to speed up SOEs listing on stock markets www.chinaview.cn 2003-11-19 15:33:39 BEIJING, Nov. 19 (Xinhuanet) -- China will speed up shifting state-owned enterprises (SOEs) to joint stock companies next year so they can be listed at home and abroad, according to a senior official. Shao Ning, Vice Minister of the State-owned Assets Supervision and Administration Commission (SASAC), was reported Tuesday as saying that the SASAC's major task next year is to push forward restructuring of SOE corporate governance and urge promising SOEs to list on domestic and overseas stock markets. Another SASAC official, Ma Jiantang, said early this month in Suzhou city, Jiangsu Province that China welcomes overseas investors to takeover its SOEs. The State Council announced on Nov. 13 a list of 189 SOEs that have the SASAC as the investor representing the state. All the SASAC does is to act as a responsible investor of SOEs in line with laws, Shao said at a forum on the past and future development of Chinese mainland companies in Hong Kong stock markets. An overall checkup upon total assets of SOEs has been carried out to pave the way for supervision, he said. Next year managers of the 189 SOEs will receive a pay package based on performance, Zhao said. Six large Chinese state-owned enterprises (SOEs) recruited senior executives from home and abroad since mid September, the first such move to improve their personnel structure. Shao said more SOEs will carry out such recruiting next year with more positions available. Enditem news.xinhuanet.com