China to facilitate merger, acquisition of SOEs by foreign companies
( 2003-11-19 13:49) (Xinhua)
A senior Chinese official said here Wednesday that China will create a better
environment for large foreign companies to participate in the merger,
acquisition and restructuring of its state-owned enterprises (SOEs).
Li Rongrong, minister in charge of the State-owned Assets Supervision and
Administration Commission, said at international forum on merger and
acquisition, foreign investors will see a broader field and more relaxed
policies when engaged in the merger and acquisition business in China.
According to Li, foreign companies and non state-owned enterprises have been
involved in 83 percent of the property right transfer of SOEs directly under the
central government since the establishment of the commission in March this year.
Foreign investors currently are concerned with sound enterprises in China,
including listed companies, and most of them are targeted at leading enterprises
in their industries, Li added.
China will further formulate and improve related laws and regulations to
provide perfect legal guarantee for foreign investors' merger and acquisition of
Chinese SOEs, Li said.