13.8 Billion State-Owned Assets Operation AuthorizedThe first group of four assets management corporations and authorized group companies were set up on June 8 in Guangzhou.Under the circumstance of the separation of ownership from the management power, the four electromechanical, light industrial, iron and steel and auto companies were authorized to operate nearly 13.81 billion yuan worth of assets, that involve a total of 458 enterprises. The four corporations are divided into two types: one is state-owned assets management companies, mainly referring to the Guangzhou Electromechanical Industry Assets Management Co., Ltd., which is composed of 222 electromechanical enterprises in Guangzhou. The authorized State-owned assets reach nearly 4.19 billion yuan. The other type is the three authorized group companies, namely, the Guangzhou Light Industrial Trade Group Co., Ltd., the Guangzhou Iron and Steel Enterprise Group Co., Ltd. and the Guangzhou Auto Industrial Group Company. The authorized assets exceed 9.62 billion yuan. The four assets management companies and authorized group companies will, after being empowered, institute classified management and assessment. Authorized management will be exercised over the assets of enterprises which are well performed or over state-owned assets of enterprises with the potential for the reorganization of assets. Trust management will be exercised over the State asset of enterprises with poor asset quality. |
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