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  1. State-owned investment firm eyes HK listing

    Posted Jun 04th 2004, 12:00am by Eric Ng

    ... a Hong Kong main-board listing, the first sought by a mainland government body set up to finance reforms of state-owned enterprises. Shanghai Commercial Investment was formed and registered ... and acquisitions, as well as financial and investment advisory services. SCIG chairman Chen Xiaohong said the funds would be invested mainly in state-owned enterprises, in accordance with a 2002 central ...

  2. 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 ...

  3. A hitch in fast-track privatisation

    Posted Jun 21st 2004, 12:00am by Staff Reporter

    ... of state-owned enterprises in China. It is important to understand, however, that regulating the sale of state shares in enterprises is only one part of Sasac's job. Another key part, according ... national-level enterprises- such as China Telecom and PetroChina- the situation of many provincial-level state-owned enterprises is dire. In strictly financial terms, the appropriate course of action ...

  4. The mission creep at the great sell-off

    Posted Jun 14th 2004, 12:00am by Staff Reporter

    ... enterprise reform in 1998, a huge number have been privatised, by sale to managers or outside private investors. Eighty per cent of county-level and 60 per cent of city-level state-owned enterprises ... State-owned Assets Supervision and Administration Commission (Sasac). Created last spring, its main role was to become the government shareholder in 196 large national-level enterprise groups, ...

  5. 2,000 state firms granted bailout ahead of bankruptcy law

    Posted Jun 22nd 2004, 12:00am by Elaine Chan

    ... enterprises was not paid to creditors but used to settle payments to unemployed staff. The remainder would go to creditors, or state-owned banks. According to Sasac, the government closed 3,377 ... Elaine Chan Move is last administration-driven rescue as government reforms waning sector China yesterday said it bankrolled the closure of 2,000 financially troubled state-owned companies ...

  6. Authorities determined to illuminate state-asset sales

    Posted Nov 11th 2004, 12:00am by Staff Reporter

    ... The temptation and ability to deal behind closed doors remains strong, reports Andrew K. Collier A Shanghai lawyer, rushing to close the purchase of a state-owned company ... assets without appropriate clearance. Regulators at the Ministry of Finance and the State-owned Assets Supervision and Administration Commission (Sasac) are concerned about a wave of sweetheart ...

  7. 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, ...

  8. State firms ordered to hire accountants to audit books

    Posted Sep 13th 2004, 12:00am by Elaine Chan, Eric Ng

    ... Eric Ng and Elaine Chan Mainland state-owned enterprises (SOEs)- including unlisted ones- must hire accounting firms to audit their books, according to a recent circular released by the State-owned Assets Supervision and Administration Commission (Sasac). The new requirement, aimed at controlling book-cooking and asset-stripping by corrupt officials, will also play a key role ...

  9. Unions facing an uphill battle outside state sector

    Posted Oct 27th 2004, 12:00am by Shi Jiangtao

    ... economy is now made up of a mixture of state-owned enterprises, privately run business, foreign-funded companies and joint ventures. Although the constitution guarantees freedom of association, ... on time and even state-owned enterprises are not paying adequate attention to safeguarding workers' benefits in their restructuring processes,' Ms Gu said. 'Decisions [made ...

  10. Laid-off state workers to lose special status

    Posted Dec 21st 2004, 12:00am by Shi Jiangtao

    ... year. Workers laid off from state-owned and collective enterprises will then be eligible to receive unemployment benefits or minimum living allowances from the cities they live in. Under the current system, redundant workers from state-owned enterprises are sent home with a small percentage of their salaries, which is paid by the firms and the government. The reclassification ...




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