More State-owned enterprises will be listed abroad
A Chinese official said said on Sunday that government will reduce the numbers of State-owned enterprises (SOEs) from 150 to a range of 80 to 100 and encourage some of them to IPO in overseas.
Google wants TV 'white space' for wi-fiOn Sunday's press conference held at the Beijing International Media Center, Li Rongrong, chairman of the State-owned Assets Supervision and Administration Commission (SASAC), said: "The target of reducing the total number of centrally-administered SOEs to 80 to 100 by 2010 is unchanged." There were 149 such SOEs at the end of 2007.
Li said some SOEs should compete in the market if they had no national economic security role.
The schedule for SOEs' reforms will start after The Olympics and Paralympics finish.
Li said SOEs list overseas will help these companies bring advantage manage experience and foreign investors also get benefits.
Li also said the SASAC had no plan at present to regroup the five State-owned power companies. However, it would speed up the rationalization of State-owned real estate companies to no more than 15.
He said the central government would remain the dominant shareholder of these SOEs and these enterprises should "make positive contributions" to the healthy development of China's stock market.
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