Sinopharm and China National Building Materials CNBM are next in line for further privatisation, Chinese officials said on Tuesday, as the country pressed ahead with sweeping reforms of its bloated state-sector.
In all, six companies were singled out as potential test cases for the rest of the Chinese economy, including State Development Investment Corp SDIC Cofco China Energy Conservation and Environmental Protection CECEP and Xinxing Cathay International.
China’s Communist Party, more than ever before, is embracing private sector investment in its SOEs in the hope that mixed ownership will make these economic linchpins more efficient and in so doing cut general debt levels...
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