www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

SOEs in search of strategy for change amid reform drive

By Shi Jing (China Daily) Updated: 2014-04-11 07:07

State-owned enterprises are losing competitiveness and the support from investors, but the way forward is still far from clear, reports Shi Jing in Shanghai

Even as the central government called for further reform of China's massive State-owned enterprises, a policy that could undermine their dominant market positions, investors were pulling funds from their shares.

A survey by Bloomberg News in late February found that oil producer PetroChina Co Ltd ranked only 14 on a list of the top 20 emerging-market stocks in terms of market capitalization, down from fourth place a year earlier. It was the only Chinese company to make the top 20.

SOEs in search of strategy for change amid reform drive

SOEs in search of strategy for change amid reform drive

SOEs are also losing their market competitiveness. According to research by the world's largest brand consulting firm, Interbrand, released in November, China Mobile Ltd's brand value slumped even though it managed to retain its top position in the list of Best China Brands. However, private-sector Internet giant Tencent Holdings Ltd saw its brand value increase by 84 percent.

"China Mobile, of course, realized how tough the competition is and modified its market strategy," said Tang Yaqian, deputy strategy director of Interbrand China.

In many industries, nimble private companies are forcing SOEs to change. Examples can be found in recent moves: Shanghai-based Dazhong Insurance Co Ltd obtained approval from the China Insurance Regulatory Commission for a change in its equity ownership. China Petroleum and Chemical Corp, known as Sinopec, announced on Feb 19 that it will open its highly profitable oil retail business to private capital participation.

Zhuhai Gree Group Corp, wholly owned by the Zhuhai State-owned Assets Supervision and Administration Commission in Guangdong province, announced a day later it would transfer its asset stake in Gree Real Estate Co Ltd to a newly established company, and sell an equity stake of less than 49 percent via public tender to introduce strategic investors.

"In our view, the current wave of SOE reform started with quality companies and quality assets. We think this is the right approach and expect it to be expanded. We think local governments, facing rising financing costs, increased regulation of the shadow banking business, pressures to roll over debt and the need to cut overcapacity, will be active in seeking opportunities to restructure local State-owned enterprises," said Jian Chang, chief China economist at Barclays Plc.

However, this is far from enough. According to its Ministry of Finance, China has more than 100,000 SOEs at all levels, with combined assets of about $13 trillion. Reforming that many enterprises in a manner that satisfies everyone "will be difficult and will take some time, notably because that part of the Chinese economy increased quite significantly during the financial crisis," according to Pascal Lamy, former director-general of the World Trade Organization.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 91青草久久久久久清纯 | 成人免费网站在线观看 | 99国产精品免费视频观看 | 视频一区在线播放 | 亚洲性久久| 久久精品国产99久久99久久久 | 国产99久久久久久免费看 | 久久精品国产99国产精品免费看 | 成人三级精品视频在线观看 | 日本加勒比在线观看 | 亚洲成人xxx | 国产一区亚洲二区 | 国产欧美一区二区精品久久久 | 亚洲精品久一区 | 亚洲美女视频网站 | 国产成人在线观看免费网站 | 亚欧成人中文字幕一区 | 久久在线影院 | 欧美精品在线一区 | 99热久久精品国产 | 青青爽国产手机在线观看免费 | 国产亚洲一区二区手机在线观看 | 欧美大片aaa | 一级特黄特黄毛片欧美的 | 免费国产a理论片 | 高清午夜看片a福利在线观看琪琪 | 欧美特黄一片aa大片免费看 | 国产成人在线影院 | 怡红院精品视频 | 国产亚洲女在线精品 | 俄罗斯特级毛片 | 久草不卡视频 | 亚洲综合视频在线观看 | 男女福利| 99re思思 | 国产成人在线视频 | 久草手机在线观看视频 | 精品久久久久久久久久久久久久久 | 亚洲综合在线另类色区奇米 | 国产精品成人久久久久 | 国产成人免费 |