Guangzhou SOE reform

Source:Global Times Published: 2013-12-24 23:43:01

Guangzhou will consolidate 130 local State-owned enterprises (SOEs) into 40 amid an effort to roll out an SOE reform program, Guangzhou-based Nandu Daily reported Tuesday.

The reform will be completed within three years, when 80 percent of State-owned assets in Guangzhou will be integrated into 20 large enterprises, according to the report.

By the end of August 2013, the total State-owned assets reached 1.53 trillion yuan ($251 billion), the report said citing the State assets authorities of Guangzhou.

Guangzhou is the second major city after Shanghai to work out guidelines for SOE reform.

Global Times

Posted in: Markets

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