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Big mergers likely to reduce China SOEs to 40: report

Beijing pushing ahead with plan to overhaul the country's underperforming state sector

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The merger of state-owned CNR (above) and CSR, China's top two train makers, created a US$26 billion company able to win global rail deals against rivals such as Germany's Siemens AG and Canada's Bombardier Inc.

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China's stock markets appear oblivious to deteriorating company earnings, surging 80 per cent since November on expectations that the authorities will keep pumping liquidity into the system.

Beijing

CHINA will likely cut the number of its central government-owned conglomerates to 40 through massive mergers, as Beijing pushes forward a sweeping plan to overhaul the country's underperforming state sector, state media reported on Monday.

The consolidation will first take

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