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.



Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems


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