China Said to Consider Merging Xinxing Cathay, First Heavy

  • The groups have total assets of about 170 billion yuan
  • Liu Mingzhong is chairman of the two industrial groups

China is considering combining Xinxing Cathay International Group Co. with the parent of China First Heavy Industries as part of an overhaul of state-owned enterprises, people with direct knowledge of the discussions said. Shares of the listed units jumped.

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