NE China SOEs Restructured with Sino-British Cooperation

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Last updated at: (Beijing Time) Friday, March 21, 2003

NE China SOEs Restructured with Sino-British Cooperation

Thirteen state-owned enterprises (SOEs) in northeast China's Liaoning Province have benefited from a Sino-British restructuring program.

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Thirteen state-owned enterprises (SOEs) in northeast China's Liaoning Province have benefited from a Sino-British restructuring program.

The program had helped SOEs in the province to restructure, which led to positive changes in their management and profits, said Yang Xihuai, deputy director of the Economic and Trade Committee under the provincial government, Thursday.

The three-year program was jointly initiated in 2000 by the Chinese government and the British government's Department for International Development (DFID) in Liaoning and southwest China's Sichuan Province.

The DFID has invested 19 million pounds in the program.

The cities of Shenyang, Dalian and Anshan in Liaoning, known for having the most SOEs in China, were selected as pilot cities.

US-based consulting giant PricewaterhouseCoopers were hired to provide technical support and management advice for restructuring SOEs.

More than 110 SOE managers and employees were trained by the overseas consulting company on the latest management and corporate strategy ideas, Yang said.

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