Shanghai-owned state companies will spur investments in next five years

Shanghai-owned state companies will spur investments in next five years

Shanghai's locally-owned state companies are on the verge of investing an extra 800 billion Yuan every year for the next five years. The funds will be mostly allocated for major strategic industries. That’s what the city government informed on Thursday.

It didn’t provide details of how much regular investment the given state-owned companies were planning. It’s also still unknown what industries the extra funds would be allocated for.

China's ruling Communist Party has stepped up its plans to have the state sector reformed via a mix of market forces as well as targeted support in an attempt to cut inefficiencies and also dominate certain swathes of the national economy.

The fresh thrust suggests shaking up ownership structures as well as injecting private capital into the debt-ridden sector.

In Shanghai, local SOEs managed to earn 3.1 trillion Yuan in 2016, with net revenue hitting 305.8 billion Yuan, as state media informed.

 

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera