To: Clarksterh who wrote (18670 ) 11/21/1998 12:22:00 PM From: Ramsey Su Read Replies (1) | Respond to of 152472
I wonder if this will finally bring the Great Wall Telecom delays to a decision point. Does anyone know what type of JV models are allowable in China these days? It seems to me that if LWIN can find the funds, they should purchase the PLA's share of Great Wall. Most QC investors have long forgotten that CDMA is, at least in theory, ready to launch in 4 major cities in China. Any positive announcement should at least inch us a point or two closer to Maurice's target of 80 by year 2000. Ramsey AGENCE FRANCE-PRESSE Beijing is forging ahead with plans to divest the army, armed police and judiciary of their commercial interests by the end of the year, the People's Daily reported yesterday. Official registration and asset appraisal of all enterprises in the multibillion-dollar business empire was completed by the start of this month, official sources said. The firms' transfer to special state offices would be completed before the end of the year. Only after that will the enterprises be restructured and divided according to line of business. In July, President Jiang Zemin ordered the People's Liberation Army to give up its vast business empire amid concerns over rampant abuse of power by military officials. Similar orders have been given before without much effect. The issue appeared to have slipped off the agenda until October 6 when a meeting of the Communist Party's Central Committee, the Central Military Commission and the State Council confirmed the plan. They said all enterprises run by the PLA, the People's Armed Police, the courts and state prosecutors would have to be handed over without compensation by the end of the year. After that meeting, the National Office for the Handover of Army, Armed Police and Judicial Businesses was created and given three tasks - appraisal of the enterprises, their handover and finally restructuring. It is under Premier Zhu Rongji's direct control, with Shao Ning, head of the State Economic and Trade Commission's enterprises department, as director. In lieu of payment for the enterprises handed over, the army will receive a hefty increase in its central government budget, according to army sources. More than 20,000 companies run by PLA units have raised revenues believed to exceed the annual military budget of US$9.7 billion (HK$75 billion).scmp.com