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China's census surprise may help government policies
(bloomberg.com)
Updated: 2005-12-22 15:41
Frustrating
"The old system of collecting economic statistics, which was designed to
support a state-owned economy, isn't working," Bruce Richardson, head of
research at Evolution Securities China Ltd. in Shanghai, said in an interview.
The number of state-owned companies in China fell 48 percent in the three
years to the end of 2004 while the number of private companies rose by half, the
National Bureau of Statistics said on Dec. 6 when it released some of the
results of the census.
The government is pushing through a program to dispose of about $210
billion of non-tradable state-owned shares in domestically listed companies
and promoting mergers among state-run businesses to improve their profitability, Li
Rongrong, chairman of the State-owned Assets Supervision and Administration
Commission said in Beijing today.
The commission manages the government's holdings in nearly 200 of the
country's biggest state-owned companies including China National Petroleum Corp.
and China Mobile.
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