Fund to spur mixed-ownership reforms By LIU ZHIHUA/ZHONG NAN | China Daily | Updated: 2020-12-11 09:27 Share CLOSE An employee works on the production line of a State-owned machinery company in Zhangjiakou, Hebei province. [Photo by CHEN XIAODONG/FOR CHINA DAILY]
China is establishing a 70.7 billion yuan ($10.8 billion) fund to facilitate mixed-ownership reforms of its State-owned enterprises.
Chengtong Holdings Group Ltd, an investment company of the State Council s State-owned Assets Supervision and Administration Commission, will jointly establish the fund with several central and local SOEs, including Shanghai International Port (Group) Co Ltd and China COSCO Shipping Co Ltd, said an SIPG announcement on Wednesday.
China is establishing a 70.7 billion yuan ($10.8 billion) fund to facilitate mixed-ownership reforms of its State-owned enterprises.
Chengtong Holdings Group Ltd, an investment company of the State Council s State-owned Assets Supervision and Administration Commission, will jointly establish the fund with several central and local SOEs, including Shanghai International Port (Group) Co Ltd and China COSCO Shipping Co Ltd, said an SIPG announcement on Wednesday.
The company administering the fund will be registered in the Lingang Special Area of China (Shanghai) Pilot Free Trade Zone and will mostly invest in the mixed-ownership reform projects of SOEs, and equity investments projects of State firms in the private sector.