SOE reform leads to rising stock prices
China stocks started the week on a firm note, led by defense stocks, as more central State-owned enterprises (SOEs) mulled plans to push mixed-ownership reforms. The blue-chip CSI300 index rose 0.5 percent on Monday to 3,363.90 points. The Shanghai Composite Index also added 0.5 percent, to 3,171.24 points.
State-owned enterprises reform has been a driver in recent weeks, as China vowed to push forward mixed-ownership reforms in key sectors, including aviation, defense, oil and telecommunications.
China South Industries Group Corporation has made preliminary proposals regarding mixed-ownership reforms in defense enterprises and will launch trial stock ownership plans in its listed subsidiary Chongqing Changan Automobile, Shanghai Securities News reported.
