Cointime update: China’s State-owned Assets Supervision and Administration Commission (SASAC) held a symposium in Beijing on Nov. 3 on deepening reform of local state-owned enterprises. The commission said local SOEs should align with regional 15th Five-Year Plan priorities, concentrate on core businesses, and curb unrelated diversification, multi-layer structures and excessive debt while pursuing M&A prudently.
SASAC Urges Local SOEs to Focus on Core Business, Curb Over-Diversification
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