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China Southern to Receive New Investor Windfall

By Caixin / Jul 22, 2019 02:11 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

China Southern Airlines is bringing in new investors as Asia’s largest carrier seeks to comply with government efforts to diversify and enhance the ownership structures of state-owned firms.

The three new investors — Guangdong Hengjian Investment Holding, Guangzhou Urban Construction Investment Group, and the Shenzhen Penghang Equity Investment Fund — will each pour 10 billion yuan ($1.45 billion) into the airline, according to a filing to the Shanghai Stock Exchange dated Sunday.

China Southern is one of 96 enterprises owned and administered directly by the central government.

Related: More State Enterprises Set for Mixed-Ownership Reforms

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