Learn Chinese online - 60,000 SOEs turned private in 10 years

Home Business Politics Life Culture��Edu Sci��Tech Sports Photos

��Search

  China Observer

�� China to eliminate padded payroll

�� Aerospace spirits up youths

�� Chinese "self expression" on the rise

  Photos

�� Yuzhou's exhibition of Jun porcelain works

�� Beijing opera "Chang Ban Slope"

�� Snow bamboo painter displayed personal works

��Home>>Business

60,000 SOEs turned private in 10 years

www.chinanews.cn 2005-11-05 16:54:05

(Source: Xinhuanet)

BEIJING, Nov. 5 - From 1996 to 2005, about 60,000 state-owned industrial
corporations have been changed into private ones, according to a report
recently released by the International Finance Corporation (IFC).
By 2005, about 50 percent of state-owned industrial corporations have
been privatized, and 26 percent have been merged or liquidated, said the
IFC.
In 1996, China had about 114,000 state-owned industrial corporations, and
in 2005, the figure dropped to 27,000. Over 70 percent have been partly
or completely privatized, the IFC said.
In recent years, the reform process of China's state-owned enterprises
has been accelerating, now covering almost all types of industrial
enterprises.
The ownership of those corporations has been changed in various ways,
including bankruptcy, going public, auctioning and being sold to domestic
or overseas business persons.

          ��Beijing promoting 180 local SOE projects
          ��Beijing SOE to do massive fund raising overseas
          ��SOE the propelling force in share reforms
          ��SOE executives to get shareholding soon

Copyright� 2004 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
Disclaimer: viewpoints in the website do not represent China News Service

Learn Chinese, Learn Chinese online