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  • July 24, 2014
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  1. Graft worsens at state-owned firms

    Posted Dec 22nd 2004, 12:00am by Shi Jiangtao

    ... officials from state-owned enterprises (SOEs), the Supreme People's Procuratorate says. And the number of such crimes has risen in recent years, as SOE bosses took advantage of ambiguous ... against corruption in state firms highlighted the importance of setting up a transparent monitoring mechanism in the transformation of state-owned enterprises into stock companies. Current laws ...

  2. Declining earnings trigger pay cuts at state-owned companies

    Posted Jan 28th 2009, 12:00am by Staff Reporter

    ... Neil Gough Senior officials at the mainland's biggest state-owned companies face the prospect of fewer- and slimmer- red envelopes this year, as falling earnings trigger pay cuts and Beijing calls for financial sector compensation to be controlled. Senior management at state-owned financial firms such as Industrial and Commercial Bank of China, Bank of China, China ...

  3. State-owned firm loses up to US$500m with bungled bets on oil price

    Posted Dec 01st 2004, 12:00am by Wang Xiangwei

    ... of wrong bets in trading oil derivatives on Singapore's futures market, sources close to the firm said. If confirmed, this would be the largest trading loss by a state-owned company ... oil-price shock. CAO Singapore, which is 60 per cent controlled by the state-owned China Aviation Oil Holding, could collapse if the central government does not step in and rescue the company, ...

  4. Sale of state assets to be guided by a 'healthy market'

    Posted Dec 08th 2003, 12:00am by Staff Reporter

    ... of a 'healthy market', a senior official has said. Speaking in Tianjin at the weekend, Li Rongrong, chairman of the State-owned Assets Supervision and Administration Commission, said the country was at a critical juncture as the government reformed the composition and structure of the state-owned sector. 'As we further the reform of our state-owned enterprises, and accelerate the reshaping ...

  5. Cosco to get out of property sector

    Posted Mar 20th 2010, 12:00am by Peggy Sito, Yvonne Liu

    ... of the real estate market. The move is seen as a reaction to mounting criticism that state-owned enterprises have bid up land prices to record highs since a property boom began last year. The order ... However, the overall impact was not significant because state-owned companies played a minor role in the property market as a whole. Total property sales by state-owned enterprises amounted ...

  6. Banking on foreign talent

    Posted Nov 16th 2004, 12:00am by Laurence Brahm

    ... a shareholding company. The BOC has adopted a more aggressive and western model in reorganising its entire body and assets, while CCB has followed a pattern adopted by most state-owned enterprises ... and China Construction Bank (CCB), the two state-owned commercial banks slated for international listing. Mr Huang reflects the central government's conviction that a rapid overhaul ...

  7. Rusting Shenyang pins its hopes on welfare scheme

    Posted Aug 13th 2003, 12:00am by Nailene Chou

    ... and three years later has enabled 1.65 million workers from state-owned enterprises to sever ties with their employers. The central government, local authorities and state-owned firms and employees all contribute, providing social security. But officials in Shenyang say the worst is far from over. State-owned enterprises still employ 4.13 million workers, many of whom will soon join ...

  8. Thousands of state firms face closure

    Posted Nov 20th 2003, 12:00am by Staff Reporter

    ... Andrew K. Collier in Beijing Restructuring may take at least five years as failing enterprises are allowed to die More than 2,500 state-owned companies and mines are close to bankruptcy ... billion) in debt. 'There is still a bulk of enterprises that need to be closed down,' said Li Rongrong, chairman of the state-owned Assets Supervision and Administration Commission ...

  9. New bankruptcy legislation will aid continued reform

    Posted Jun 30th 2005, 12:00am by Kate Watson

    ... and policies that often differ in application from province to province and even from company to company, depending on whether the enterprise is state-owned or not. The draft law, by contrast, applies equally to all forms of ownership, including state-owned enterprises, partnerships, sole proprietorships and private enterprises. 'This is a good attempt to put a unified bankruptcy law ...

  10. Laws to govern privatisation sped up

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

    ... Cary Huang in Beijing Former State Council official says updated corporate regulations will ease the transition of big state-owned enterprises The State Council is accelerating amendments ... stationed in key state-owned enterprises, told the South China Morning Post that the amendments would enable SOEs to be governed by the legislature instead of government agencies. 'All problems ...




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