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China SOE Reform Plan Said to Seek Share Listings, Privatization

  • Some commercial SOEs in competitive industries may sell stakes
  • Plan promotes mergers and restructurings of state-run firms

China plans to sell shares of some state-owned enterprises and consolidate others in a plan that paves the way for the country’s largest overhaul of its bloated businesses since the late 1990s.

China will “forcefully push state-owned enterprises to reform and go public and create conditions for conglomerates to list all their assets,” according to a document jointly issued by the Communist Party Central Committee and the State Council seen by Bloomberg News. Government-run companies in competitive sectors must seek more diversified ownership by selling stakes to state and non-state investors, the document showed.