Sunday, November 29, 2015   

6 state-owned enterprises to undergo reforms
(07-15 16:35)

Six big state-owned enterprises (SOEs) will pilot reforms in ownership, management and supervision, Chinese authorities announced on Tuesday.
The companies are State Development & Investment Corporation (SDIC), China National Cereals, Oils and Foodstuffs Corporation (COFCO), China National Building Materials Group (CNBM), China Energy Conservation and Environmental Protection Group (CECEP), Xinxing Cathay International Group (XXCIG) and China National Pharmaceutical Group (Sinopharm), according to the State-owned Assets Supervision and Administration Commission (SASAC).
"State-owned asset investment companies" will be "reorganized" based on the SDIC and COFCO on a trial basis. Mixed-ownership pilot reforms will be carried out at Sinopharm and CNBM, said Peng Huagang, a SASAC senior official at a press conference.
A more effective system of board of directors will be set up at XXCIG, CECEP, Sinopharm and CNBM, and "disciplinary inspection teams" will be sent to another two or three unnamed SOEs, Peng said. --Xinhua   
Other China breaking news:
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(H7N9 virus) Guangdong farmer infected with bird flu (11-27 16:25)
Beijing reiterates ‘defensive’ military posture amid PLA reforms (11-27 15:24)
Rights activist Guo Feixiong convicted in Guangzhou court (11-27 12:34)
Beijing explores Djibouti naval base (11-26 20:23)
China-born beauty contestant Lin grounded in HK (11-26 20:18)
Journalist Gao Yu freed on medical grounds (11-26 19:54)
Wild animal traffickers hid pangolins and ivory in frozen fish cargo (11-26 17:43)
Fujian names new acting governor (11-26 17:38)
Japan plans to move hundreds of troop onto disputed islands (11-26 17:25)

More breaking news >>

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