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China Supports Private, Foreign Investors to Join SOE Reform

China will keep on opening up economically, as it supports both private and foreign investors’ participation in the restructuring of state-owned enterprises, which they can do by purchasing shares, bonds or via debt-to-equity swaps.

The National Development and Reform Commission of the People’s Republic of China and the State-Owned Assets Supervision and Administration Commission have kicked off China’s third round of its SOEs’ mixed-ownership reform, involving both central and local such companies and covering seven key areas containing electricity, oil, natural gas, railway, civil aviation, telecom and defense, a representative of the NDRC said to state-run Xinhua News Agency.

China has steadily pushed forward with its SOEs’ mixed-ownership reform, which encourages these firms to bring in private and foreign investors to achieve diversified ownership. Earlier rounds of the reform have made important achievements, said the NDRC statement, without elaborating on the content of these achievements.

Source: yicaiglobal.com

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