China to deal severely with SOEs that perform poorly: Xinhua
[SHANGHAI] China will evaluate the performance of its state-owned enterprises (SOEs) in 2014 and "severely deal with" companies that perform poorly, are continuously loss-making or do not meet safety standards, state news agency Xinhua said yesterday.
Beijing hopes to move towards a more efficient model for such enterprises where the state retains ownership but management is more focused on getting returns on investment than meeting policy goals.
The government is also seeking to alleviate entrenched industrial overcapacity aggravated by state firms over-investing.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Strong demand for ECs could spur competition for Pasir Ris GLS site
Singapore’s STT GDC to co-develop US$420 million data centre in Vietnam
10 terrific 2022 Beaujolais to drink now, or in a few years
Eurozone home loan stress ‘manageable’ despite high rates, says ECB
Cordlife to cancel private placement; MOH stresses importance of local directors
Sasseur Reit posts 1.2% rise in Q1 rental income; changes to semi-annual distributions