Has China given up on state-owned enterprise reform? Rather than allowing the private sector more space, Beijing wants a tool for the implementation of government policy.
The Tonghua Iron and Steel Mill in Tonghua, Jilin province, China, in 2016, one of many state-run steel mills that struggled to modernise (Qilai Shen/In Pictures via Getty Images Images) Published 15 Apr 2021 10:00 0 Comments
Outside observers have all but given up hope that China will engage in meaningful state-owned enterprise (SOE) reform. There is a pervasive sense that rather than shrinking SOEs, China’s leaders are committed to increasing their prominence within the economy.
Foreign perceptions of Chinese SOEs were not always so pessimistic. In the 1990s and early 2000s, China engaged in a massive campaign of SOE reform, creating hope that China might be on a path towards a less state-centric economy
Ansteel, Bengang Relaunch Restructuring to Create China’s No. 2 Steelmaker
China’s state-owned
Ansteel Group is planning a strategic consolidation with regional rival
Benxi Steel Group, known as Bengang, a move that could form China’s second-largest steelmaker, Bengang’s Shenzhen-listed unit said Thursday.
The restructuring, which may result in a change of control of the company, is still in the planning stage, subject to the approval of related government departments, Bengang Steel Plates Co. Ltd. (000761.SZ) said in a statement.
This would be the second attempt for the two steelmakers to consolidate in 16 years. The two companies announced a merger in 2005 but were unable to complete it. As Ansteel is owned by the national state-assets regulator and Bengang is owned by the local regulator, they couldn’t agree on an asset-reorganization plan, and the merger was limited to consolidation of financial statement, without an actual integration.
MIL-OSI China: China to speed up intercity railway service foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.
China to speed up intercity railway service By Zheng Xin | China Daily | Updated: 2021-04-14 07:15 Share CLOSE Workers construct an intercity railway in Huai an, Jiangsu province. The railway will connect the city with the provincial capital of Nanjing upon completion. [Photo by Zhao Qirui/for China Daily]
China will speed up the planning and construction of intercity railway networks in key urban city and metropolis clusters, the country s top economic regulator said.
The government will accelerate interurban railway construction in the Beijing-Tianjin-Hebei region, the Yangtze River Delta region and the Guangdong-Hong Kong-Macao Greater Bay Area, according to the National Development and Reform Commission. Interurban railway is a type of electric railway, with streetcar-like electric self-propelled rail cars which run within and between cities or towns.
China to speed up intercity railway service--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.