|China Congress Debates Privatization Reforms|
|by Tom McGregor||Mon, Mar 4, 2013, 11:14 PM|
BEIJING: China's Politburo Standing Committee is considering a plan to allow more State-owned enterprises (SOEs) to get privatized. SOEs operating in the railway, energy and finance sectors might get sold soon.
Reuters reports that, "China must make room for private investors in sectors including railway, energy and finance over the next five years, a member of its decision-making Politburo Standing Committee was quoted as saying by Xinhua news agency."
Zhang Gaoli is calling for more support to be granted to the private sector, and confessed that Beijing has an 'iron rice bowl grip' over the industry.
According to Reuters, "'breakthroughs must be made to let private capital into industries,' Zhang was quoted as saying before China's annual parliament session begins on Tuesday, when private investors are set to lobby for greater access to state-controlled businesses."
A group of private businessmen plan to meet on the sidelines of China’s parliament meting in the next 10 days to call for greater privatization.
To read the entire article from Reuters, link here:
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