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Investors Will Have Chances to Buy into State Property
Foreign and private investors will have more chances to buy into present State-owned property during China's economic structural adjustment but the process might take some time.
Li Zibin, vice-minister of the State Development Planning Commission, made the remark Monday at a two-day seminar "the Dialogue between Knowledge and Capital" held by Qinghua University.
The State-owned capital is involved in too many sectors and should be withdrawn from some minor ones such as garments and shoe-making, and focusing on industries vital to the country's overall economy, Li said.
"There are many ways to withdraw from such State-owned properties, and if foreign and private investors are interested in purchasing them, we would like to sell them," Li said.
Zhou Xiaochuan, chairman of the China Securities Regulatory Commission, revealed at a previous meeting that China's A-share market, which is exclusive to foreigners, will be gradually combined with the B-share market opening to overseas investors.
Experts have suggested that the stock market could be a channel for the transfer of State-owned properties though the process has not started yet.
China will make laws and regulations to ensure the safety of foreign and private investments in State-owned properties, but also admitted that present related laws are inadequate.
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