Deals
China Starts New Company to Manage State-Owned Assets
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China set up a new management company to speed up the restructuring of smaller and uncompetitive state-owned enterprises, the State-owned Assets Supervision and Administration Commission said.
China Reform Holdings Corporation Ltd., which was unveiled today, will own weaker companies in industries that are not key to national and economic security, according to a statement on the website of the commission, which supervises the biggest state-owned enterprises including the parent companies of China Mobile Ltd., the world’s biggest mobile-phone company by users, and PetroChina Co.