BIZCHINA / Securities
China mulls over integrated listing of central enterprises
(Xinhua)
Updated: 2007-03-06 14:25
China is working on a scheme for the integrated listing of enterprises
under the direct management of the central government, known as "central
enterprises", a political advisor has revealed.
The scheme is expected to be worked out within this year, and central
enterprises will go public mainly on domestic A-share market, said Zhu
Tao, former chairman of the board of supervisors of the State-owned
Assets Supervision and Administration Commission (SASAC) of the State
Council.
The integrated listing may lead to the decline of state-owned equities in
the enterprises, but won't weaken state control over them, said Zhu, who
is attending the annual session of the National Committee of Chinese
People's Political Consultative Conference (CPPCC), China's top political
advisory body.
It will help improve the operation of state-owned enterprises, he said.
Minister in charge of the SASAC Li Rongrong also revealed previously that
the commission will push forward the shareholding transformation of the
central enterprises this year and have their parent companies or main
operations listed on the stock market.
China now has 159 central enterprises, which had total assets exceeding
12 trillion yuan at the end of 2006. The SASAC plans to reduce the number
of central enterprises to between 80 and 100 by the year 2010 through
restructuring.
At present, many subsidiaries of central enterprises have been listed on
domestic or overseas stock markets.
(For more biz stories, please visit Industry Updates)
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