AMONG the 500,000 people working in state-owned enterprises in Nanjing, 60,000 have been suspended from their posts, Deputy Mayor Huang Mengfu said. Mr Huang said up to 45 per cent of the city's 400 state-run enterprises were in the red. Most of them were small to medium sized. Mayor Wang Hongmin said insufficient understanding of the market was the main reason behind the high proportion of money-losing enterprises. 'To solve the problem, sales departments of state-owned enterprises should be strengthened,' he said. Failing this, he added, enterprises could be declared bankrupt.
