China to convert all giant state companies into joint-stock firms by end-2017

Beijing

ALL big Chinese companies owned by the central government will be registered as limited liability companies or joint-stock firms by the end of the year, as Beijing moves to make its state-owned giants more nimble, efficient and modern.

About 90 per cent of China's state-owned enterprises (SOEs) have already completed the process, which has helped improve their governance structures and management, the Cabinet said in a statement on its website on Wednesday.