SOE reforms get Chengtong boost

China Chengtong Holdings Group Ltd, an asset manager under the State Council, plans to bring in more private capital to finance the mixed-ownership reform of the country's State-owned enterprises, a top official said on Friday.

As part of this, the group will continue to set up investment funds to encourage cross investment between the State-owned and private sectors.

China Chengtong is a pillar centrally controlled State-owned enterprise under the supervision of the State-owned Assets Supervision and Administration Commission with assets totaling 100 billion yuan ($15.7 billion). The group's major business includes equity operation, financial services, asset management and integrated logistics.