China Launches $52.5B State-Owned Enterprise Restructuring Fund

china-gov-copyChina has launched a RMB350 billion (US$52.5 billion) national fund to help major state-owned enterprises restructure by industry consolidation and cutting excess capacity. The vehicle will initially target to raise RMB131 billion, with committed backings from ten state-owned enterprises, including China Mobile, China Railway Rolling Stock Corp, and China Petroleum & Chemical Corp. The State-owned […]

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Read the original article: China Money Network