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  1. State-owned firms to face faster cuts

    Posted Mar 14th 2005, 12:00am by Staff Reporter

    ... for the rest of the state-owned enterprises, they should either be sold off, contracted out or be incorporated into and merged with each other,' Mr Li was quoted as saying by Xinhua. He said the drastic reduction in state-owned enterprises was crucial in the country's drive to build a modern enterprise management regime and eventually achieve the goal of ownership diversification. ...

  2. State-owned firms to face closer scrutiny

    Posted Jan 06th 2005, 12:00am by Cary Huang

    ... it is responsible for selling thousands of small- and medium-sized state-owned enterprises (SOEs) and merging and consolidating the remaining 187 into large business groups. But by flexing its muscles, ... to improve monitoring of state-owned companies. Questions were raised about corporate governance and risk management at these companies after the China Aviation Oil (CAO) debacle last year. ...

  3. LSE woos state-owned mainland companies

    Posted Feb 01st 2005, 12:00am by Enoch Yiu

    ... 'I would like to see all the mainland large state-owned enterprises, including the Big Four state-owned banks, consider listing their shares in London,' said Jane Zhu, the head ... of financial statements- a move that threatens management with litigation or a three-year jail term for false statements. 'Many of the state-owned enterprises heads are current or former ...

  4. Record profits for state-owned firms

    Posted Jun 16th 2005, 12:00am by Cary Huang

    ... Cary Huang in Beijing 54pc rise to 737b yuan attributed to reforms, rising demand State-owned enterprises registered a record 736.88 billion yuan in profits last year, a 54.5 per cent rise ... yuan, the ministry said. The number of state-owned firms was further reduced in 2004 as a result of government reforms. There were 238,000 SOEs in 1998 and 150,000 in 2003. The ministry said ...

  5. State-owned firms' profits soar tenfold

    Posted Mar 25th 2005, 12:00am by Cary Huang

    ... Cary Huang in Beijing Minister in charge of sector says listed companies contribute two-thirds of the total, which hit 530b yuan last year The profits of the mainland's state-owned ... of the state-owned-business sector. And the rate of return on assets and profitability of SOEs listed in Hong Kong matched their Hong Kong counterparts, said Li Rongrong, director of the State-owned Assets ...

  6. Losses in sales of state assets 'will be balanced by gains'

    Posted Feb 04th 2005, 12:00am by Cary Huang

    ... Cary Huang Cheap sell-offs to managers must be avoided: regulator There will be a price to pay for reforming state-owned enterprises, the top regulator for the sector has conceded, but he ... he added, referring to cases where managers of state-owned enterprises have bought their own companies at artificially low prices when the state put them on the block. 'What we oppose ...

  7. SAFE tightens rules governing approval for overseas listings

    Posted Apr 28th 2005, 12:00am by Elaine Chan

    ... of the year was related to yuan speculation. The SAFE circulars are also aimed at curbing the sale of state-owned assets- mostly held by state-owned enterprises in various stages of privatisation or dissolution- at rock-bottom prices. In addition to the SAFE circulars, the central government recently issued an order banning managers of large state-owned enterprises from buying stakes ...

  8. State-owned firms seek global talent

    Posted May 09th 2005, 12:00am by Staff Reporter

    ... Bei Hu Two mainland firms have embarked on the first global recruitment of top managers by China's largest state-owned companies. It is part of a large global recruitment exercise ... to a State-owned Assets Supervision and Administration Commission (Sasac) statement yesterday. Beijing-based China Academy of Building Research is searching for a president. Last year, a similar global ...

  9. Exchange aims to be capital market

    Posted Aug 04th 2005, 12:00am by Jamil Anderlini

    ... Centre of the State Council, was doubtful. 'After the majority of state-owned enterprises have been privatised in about five years, the business of these exchanges will disappear,' he ... in the future, as giant state-owned enterprises come to the exchange, the deals will involve huge amounts of money that only foreign funds can afford.' ...

  10. Beijing plans clampdown on illegal sales of state assets

    Posted Mar 15th 2005, 12:00am by Elaine Chan

    ... medium to small sized state-owned enterprises (SOE), according to media reports. Managers will also be banned from buying out assets or using acquired assets as collateral to raise funds ... the pace of privatisation. The State-owned Assets Supervision and Administration Commission (Sasac), which controls more than 180 of the country's biggest SOEs with assets worth 9.2 trillion ...




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