Government-Owned Corporation | South China Morning Post
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  • Mar 29, 2015
  • Updated: 10:00pm

Government-Owned Corporation

Turning private has its pitfalls

Harold Macmillan, one of the most interesting British prime ministers, was quoted accusing Margaret Thatcher of 'selling the family silver' when she embarked on large-scale privatisation of the country's state-owned industries. (His actual quote was more nuanced*.)

Tuesday, 12 July, 2011, 12:00am

Jobs for boys at state companies

More than 40 per cent of top business executives at major state-owned enterprises hired in the past eight years by the central government's Global Talent Hunt were internal applicants.

Analysts say the finding raises concerns of potential nepotism and mismanagement of state assets.

17 May 2011 - 12:00am

Law on state assets frustrates reformers

A law to better protect and manage state-owned assets was passed on the mainland yesterday. But to the disappointment of reformers, the final version, which state media claimed ended a 15-year debate, seemed to lack the teeth that could protect stakeholders' interests.

29 Oct 2008 - 12:00am

Beijing reviews state firms' assets abroad

Latest scrutiny may uncover misuse of funds and lead to tighter controls, reports say

The central government has nearly completed a review of about one trillion yuan of offshore investments and assets held by state-owned enterprises in a move that may uncover corrupt use of state funds and lead to tighter controls of such assets, mainland media reports said.

26 Jul 2007 - 12:00am

State control spelled out for strategic industries

Foreign investment restricted in key sectors 'that affect national security'

The State Council specified yesterday for the first time seven strategic industries where state capital must have 'absolute control', Xinhua reported.

19 Dec 2006 - 12:00am

State firm workers' expenses scrutinised

Officials from state-owned enterprises will come under scrutiny for using public funds for personal wining, dining and travel under a new State Council directive.

8 Jun 2006 - 12:00am

Laws to govern privatisation sped up

Former State Council official says updated corporate regulations will ease the transition of big state-owned enterprises

The State Council is accelerating amendments to corporate law to prepare for when the central government gives up its direct control of state owned enterprises (SOEs).

16 May 2005 - 12:00am

State-owned firms to face faster cuts

Drastic reduction seen as crucial to the nation's reform drive

A pledge to speed up the restructuring of state-owned companies has been made by a central government department.

The Assets Supervision and Administration Commission is pledging to bring the 179 companies under its direct supervision down to about 80.

14 Mar 2005 - 12:00am

State-owned firms to face closer scrutiny

Two new regulatory bureaus will be set up by the corporate watchdog in the wake of oil scandal

The state assets regulator is to set up two bureaus in an apparent effort 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.

6 Jan 2005 - 12:00am

Beijing shakeup is almost complete

Latest round of government streamlining puts the capital's administration in a better position to carry out reforms

Removing the last vestiges of the planned economy, the Beijing municipal government is poised to announce a series of administrative reforms, sources say.

31 Jul 2003 - 12:00am

Officials deny foot-dragging in privatising state firms

The Government has reaffirmed its commitment to cut its stake in business, contradicting claims that the process may be frustrated by leading citizens with positions or shares in government-linked companies.

8 Mar 2002 - 12:00am

Politics and business uneasy partners

The Communist Party should be separated from state-owned enterprises so that politics does not interfere with economic affairs, according to the party secretary of a large enterprise in Beijing.

The party chief, who preferred to use the pseudonym Liang Qin, has been in charge of a large state-owned firm employing 3,000 workers for the past six years.

2 Jul 2001 - 12:00am

Aggressive liberalisation may shake up state-owned enterprises

Beijing is considering stepping up its aggressive programme to liberalise its fledgling stock markets, according to Standard Chartered Bank.

Allowing more public listings would put more pressure on the state-owned enterprises (SOEs) to increase their accountability as well as reduce their debt, the bank said in its latest bi-monthly report.

25 Aug 2000 - 12:00am

First group sent to SOEs

The State Council has designated the first group of 36 chairpersons to the boards of supervisors in 100 key state-owned enterprises (SOEs), Xinhua reported yesterday. A central government committee in charge of SOE affairs said 27 would be sent to the boards of supervisors in 67 enterprises, and the other nine would be sent to 33 enterprises after training.

19 Aug 2000 - 12:00am

Economic answers

Recently China's State Development Planning Commission minister Zeng Peiyan announced that 'private enterprises in China will be put on equal footing with state-owned enterprises. Restrictive and discriminatory regulations towards private enterprises will be eliminated'.

16 Jan 2000 - 12:00am

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