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.

Close

Today's Top News		Top Business News
+Independence stance may trigger war ( 2003-11-18) +Japanese sex scandal in Zhuhai to be revealed ( 2003-11-18) +US envoy confers on six-party talks ( 2003-11-18) +Personal RMB service OK'd in HK ( 2003-11-19) +Salary reforms at SOEs from next year ( 2003-11-19)		+China to facilitate merger, acquisition of SOEs by foreign companies ( 2003-11-19) +Advertisers on spending spree ( 2003-11-19) +GM wants China to help promote new car ( 2003-11-19) +Financial laws to suit market ( 2003-11-19) +Diamond industry sparkles in China ( 2003-11-19)