The China Securities Regulatory Commission's CSRC recent decision that 42 companies will be added to the original four companies selected for share holding reforms has sent a powerful message to its critics. The mainland media has pointed out that the inclusion of Bao Steel and Changjiang Three Gorges Electric Power Corporation -two major domestic blue chips - is especially significant.
The companies are under the direct supervision of the central government unlike the previous four companies, which have a high number of private and provincial government shareholders.
As one fund manager comments, Now reforms are moving from the rather small sized companies in the first batch to...
