China to speed up SOEs listing on stock markets
( 2003-11-19 15:56) (Xinhua)
China will speed up shifting
state- owned enterprises (SOEs) to joint stock companies next year so they can
be listed at home and abroad, according to a senior official.
Shao Ning, Vice Minister of the State-owned Assets Supervision and
Administration Commission (SASAC), was reported Tuesday as saying that the
SASAC's major task next year is to push forward restructuring of SOE corporate
governance and urge promising SOEs to list on domestic and overseas stock
markets.
Another SASAC official, Ma Jiantang, said early this month in east China's
Suzhou that China welcomes overseas investors to take over its SOEs.
The State Council announced on Nov. 13 a list of 189 SOEs that have the SASAC
as the investor representing the state.
All the SASAC does is to act as a responsible investor of SOEs in line with
laws, Shao said at a forum on the past and future development of Chinese
mainland companies in Hong Kong stock markets.
An overall checkup upon total assets of SOEs has been carried out to pave the
way for supervision, he said. Next year managers of the 189 SOEs will receive a
pay package based on performance, Zhao said.
Six large Chinese state-owned enterprises (SOEs) recruited senior executives
from home and abroad since mid September, the first such move to improve their
personnel structure.
Shao said more SOEs will carry out such recruiting next year with more
positions available.
|
