Liquidation of state-owned shares shelved
( 2003-07-22 17:31) (chinadaily.com.cn)
The liquidation of State-owned shares in listed companies will not be considered in the foreseeable future, a senior Chinese government official said Monday.
An insider from the State-owned Assets Supervision and Administration Commission (SASAC), a newly established State assets supervisory body, said the government's plan to introduce a regulation in August boosting the sale of State-owned shares in listed companies was a rumor.
"The liquidation (of State-owned shares) is a crucial issue and very sensitive to market fluctuations," the official said, who refused to be named. "I don't think SASAC has put it into its working calendar."
SASAC announced earlier it would issue a series of regulations focusing on property rights and the management of State assets. A temporary regulation on State assets supervision and management has been issued in June.
"However, the alleged regulation on the liquidation of State-owned shares is not included, " added the official. "As for some hearsay about the scale of State-owned shares liquidation, I think that's ungrounded."
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