www.xinhuanet.com
XINHUA online
CHINA VIEW
VIEW CHINA
 Breaking News THIRD EXPLOSION HITS TURKEY'S ISTANBUL    SECOND EXPLOSION HITS AREA NEAR BRITISH CONSULATE IN ISTANBUL    POWERFUL EXPLOSION HITS ISTANBUL, TURKEY.    At least 2 killed in huge blast in northern Iraq    AT LEAST TWO KILLED AS BIG EXPLOSION HITS AREAS NEAR KURDISH    Urgent: Car bombing occurs at tribal leader's home in Iraq    
Home  
China  
World  
Business  
Technology  
Opinion  
Culture/Edu  
Sports  
Entertainment  
Metrolife  
Travel  
Weather  
  About China
  Map
  History
  Constitution
  CPC & Other Parties
  State Organs
  Local Leadership
  White Papers
  Statistics
  Major Projects
  English Websites
  BizChina
- Conferences & Exhibitions
- Investment
- Bidding
- Enterprises
- Policy update
- Technological & Economic Development Zones

   News Photos Voice People BizChina Feature About us   
10,000 big merger deals to be expected in 5 years: analyst
www.chinaview.cn 2003-11-20 19:09:40

    BEIJING, Nov. 20 (Xinhuanet) -- China will have 10,000 big merger deals in the coming five years, and China should enhance enforcement of laws and regulations to speed up mergers and acquisitions of state-owned enterprises (SOEs), according to an analyst.

    Gary Coull, executive chairman of the Asia-Pacific markets of the Credit Lyonnais Securities Asia (CLSA) made the prediction at an international forum on mergers and acquisitions held in Beijing.

    About 1.7 million Chinese SOEs will be restructured, he said.

    China is determined to reform its vast SOE group and vowed to bring in more foreign and private investors to diversify the shareholding of state enterprises to improve efficiency.

    Tang Xin, associate professor of the Commercial Law Center of the Qinghua University Law School, suggested the nation reform laws and regulations on mergers and acquisitions to protect the individual investors' interest.

    Simon L. Tang, a lawyer of the US win-win international law center, said Chinese SOEs are attractive for foreign investors dueto their good capacity, rich human resources and market share.

    From 1995 to 2002, the number of Chinese SOEs in the industrialsector reduced from 77,600 to about 42,000 while total profit surged by 163.6 percent to 221 billion yuan (26.6 US dollars) and number of small and medium-sized SOEs, from 245,000 to 149,000, figures from the State-owned Assets Supervision and AdministrationCommission (SASAC) show.

    China will further improve laws and regulations to facilitate mergers and acquisitions of SOEs in a bid to speed up reform in the sector, said Zhang Delin, SASAC director of the policy and regulation bureau. Enditem

  Related Story
Copyright ©2003 Xinhua News Agency. All rights reserved.
Reproduction in whole or in part without permission is prohibited.