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.
Big projects abroad progress on SOE push By ZHONG NAN | China Daily | Updated: 2020-12-11 09:07 Share CLOSE A worker observes construction at a harbor in Colombo, Sri Lanka, commissioned by China Harbour Engineering Co Ltd on Dec 1. [Photo/XINHUA]
Reliable supply chains of Chinese firms and strong preventive moves boost recovery
China s centrally administered State-owned enterprises have either completed or made breakthroughs in a number of big-ticket projects in overseas markets in the fourth quarter of this year, thanks to their reliable supply chains and partner countries better-than-expected performance in containing the COVID-19 pandemic and boosting the local economy, according to the country s State-asset regulator.