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Central SOEs reduced to 127

By Zhao Tingting (chinadaily.com.cn)
Updated: 2010-03-17 14:59
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China New Era Group Corporation and China Energy Conservation Investment Corporation, two centrally-administered State-owned enterprises (SOEs), were approved by the State Council to restructure into one company, China's State-assets watchdog said in a statement posted on its website.

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The number of SOEs under direct supervision of the State-owned Assets Supervision and Administration Commission (SASAC) has been reduced from 128 to 127, according to the statement.

The SASAC is aiming to reduce the number of centrally-administered SOEs to between 80 and 100 by 2010 through a policy of mergers and restructuring. It had responsibility for 196 when it was first established in 2003.
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