Caixin Global – Latest China News & Headlines

Home >


CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

Update: High-Tech Trading Board Soars on Day One
China Southern to Receive New Investor Windfall
China Allows Foreign Asset Managers to Control Wealth Management JVs
China’s Starbucks Challenger Eyes Middle Eastern Foray
Veteran Hong Kong Actor Recovering After Being Stabbed at Event
China’s Largest Carmaker Expands Its Ride-Hailing Business
Xiaomi, Other Chinese Firms Debut on Fortune Global 500 List
Ministry Outlines Ultra HD Video’s Broad Application Prospects
China Allows Foreign Asset Managers to Control Wealth Management JVs
China Southern to Receive New Investor Windfall
Update: High-Tech Trading Board Soars on Day One
Taiwan Stocks Offer Hefty Yield But Investors Still Selling
China's Nasdaq-Style Venue Starts Trading as All Stocks Climb
The Meaty Taste of Meatless Food of the Future
Toyota, BYD in Tie-Up to Develop Electric Vehicles for China
China Approves Older Novartis MS Drug
Alibaba Supermarkets Roll Out Drug-Dispensing Vending Machines
Beijing Seeks Bang for Its Buck in Hydrogen Vehicle Drive
BMW, Tencent Team Up for Autonomous Driving Project
Exclusive: Chinese Buyers Deep in Talks With Embattled Japanese Panel-Maker
Vietnam Surpasses Hong Kong in Port Throughput
Bug-Trapping Lamps May Help China Control Crop-Devouring Moth
Google Says China Search Engine Plan ‘Terminated’
Northeast China Hopes to Boost State-Owned Enterprises With the Private Sector

By Zhao Runhua / Apr 08, 2019 01:27 PM / Business & Tech

Photo: VCG

Photo: VCG

Northeast China, the country’s rust belt, has a long history of heavy industry and energy production.

Now another round of reforms hoping to boost the vitality of the region's state-owned enterprises (SOEs) with private-sector funds has been announced.

A state-owned asset management watchdog in northeast China’s Liaoning province has offered 52 provincial SOEs the opportunity for “mixed-ownership reform,” which would allow the enterprises to accept both investment and management from the private sector, according to state-run Xinhua News Agency.

The 52 SOEs are in the equipment manufacturing, environmental services, and metallurgy industries, among others. Notably on the list is Benxi Steel Group Corporation, which was founded in 1905 and is widely considered one of the “cradles of China’s steel industry.”

The total assets of these SOEs are worth an estimated 200 billion yuan ($29.78 billion), and they currently employ approximately 80,000 people, an official said to Xinhua.

Local regulations under the reform’s umbrella have set very few specific restrictions on things such as private partners’ share-holding percentages, in order to attract a wide range of possible partners, Xinhua said.

A list of the 52 SOEs affected, as well as a few of their draft plans, are available through major equity exchanges in China.

Related: More State Enterprises Set for Mixed-Ownership Reforms

Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.