免费日韩片_欧美成人精品一区二区男人小说_国产乱码一区二区三区四区_国产精品国产三级国产aⅴ入口_成人看的污污超级黄网站免费_欧美一级在线免费观看_成人午夜免费无码福利片_国产乱人伦偷精品视频色欲_aaa少妇高潮大片免费看_国产精品1234_亚洲精品国产suv一区88_中文字字幕在线中文无码_精品亚洲区_午夜九九九_国产av国片精品jk制服丝袜_色综合亚洲_亚洲成av人片无码bt种子下载_欧美色就色_精品少妇的一区二区三区四区_男人用嘴添女人下身免费视频

The Shanghai municipal government set up a new investment arm over the weekend to help restructure money-losing state-owned assets and raise investment for local infrastructure projects.

"The event is one of the important measures to speed up the strategic restructuring of state-owned assets and the reform of state-owed enterprises in Shanghai," said Mayor Han Zheng at the company's opening ceremony on Saturday.

Backed by a 3-billion-yuan (US$361 million) credit line from the Industrial and Commercial Bank of China, Shanghai Shengrong Investment Co Ltd will take over the task of managing state-owned assets, selling off bad loans and other assets, bringing money-losing enterprises into the black by cutting costs and selling poorly performing departments and subsidiaries and through strategic mergers and acquisitions.

The company is also charged with raising capital for infrastructure projects, suggesting the government will reduce its role in funding construction schemes by opening them up to more private investment.

The move also shows the local government's commitment to implementing messages delivered at a recent session of the Communist Party, said Han.

During the Third Plenary Session of the 16th Central Committee of the Chinese Communist Party, which concluded in Beijing on October 14, the Party pledged to push forward development of the country's market-orientated economy. To do so, it said that restructuring state-owned assets must be made a top priority.

Shi Derong, Shengrong's president, said during the opening ceremony that the company will learn from its foreign counterparts how best to use mergers and acquisitions to shore up state-owned assets.

During the ceremony, Shengrong signed a deal with Morgan Stanley to set up a joint-venture asset management firm.

Close

Today's Top News		Top Business News
+Thousands homeless in sub-zero temperatures ( 2003-10-27) +Framework for closer trade ties in sight ( 2003-10-27) +Survey: House price rises slow down ( 2003-10-27) +Referendum rally by separatists on island condemned ( 2003-10-27) +Euthanasia faces ethical and legal dilemmas ( 2003-10-27)		+Firm to remodel state assets ( 2003-10-27) +China eyes trade pact with Kiwis ( 2003-10-27) +Home-appliance giants want wheels ( 2003-10-27) +Chip-makers see sizzling profits ( 2003-10-27) +HK's Tang to make his mark on city finances ( 2003-10-27)