The head of China’s State-owned Assets Supervision and Administration Commission (SASAC) says that it will push for further overseas expansion of the country’s central state-owned enterprises.
The head of the State-owned Assets Supervision and Administration Commission (SASAC) says that the debt levels of China’s central state-owned enterprises are “under control and gradually declining.”
China’s mixed-ownership reforms of state-owned enterprises are on track to further expand at the group level, as well as conduct further trials of employee shareholding schemes.
The head of China’s State-owned Assets Supervision and Administration Commission says that mixed-ownership trials of state-owned enterprises in key areas will forge ahead in 2018.
Chinese official media reports that state-owned enterprises will remain at the core of Beijing’s ongoing deleveraging campaign, and that reductions in their debt levels are not intended to shrink their economic importance.
China’s State Council has reiterated its commitment to the use of debt-equity swaps as a key tool for reducing high levels of corporate leverage, referring to state-owned enterprises specifically as the “priority of priorities.”
Beijing has given the green-light to banks establishing private equity funds to support the debt-equity swap schemes designed bring succour to heavily indebted state-owned enterprises.
The Chinese government has signalled key changes to the appointment process for the CEO’s of the country’s central state-owned enterprises.
China’s reforms of its central state-owned enterprises will focus on output reductions in the four key industries of non-ferrous metals, shipbuilding, oil refining and building materials in 2018.
Increasing the role of the board of directors sit at the top of the reform agenda for China’s central state-owned enterprises in 2018, alongside shoring up Chinese Communist Party influence upon corporate governance.