China Increasing Reforms At Money-Losing State-owned Enterprises ...

[bich dao <daotb@yahoo.com>]

China Increasing Reforms At Money-Losing State-owned Enterprises 

 SHENYANG, August 19 (Xinhua) -- Liaoning Province, one of China 's
oldest industrial bases, has concrete goals for its
 state-owned enterprise reform for the second half of the year, local
officials say. 

 The provincial government will help 244 enterprises increase sales,
profits, and taxes by 10 percent by the end of the year and
 help half of the 200 enterprises that are suffering losses to make a
profit. It will also help others cut their losses. 

 It will accelerate the pace of modernizing 60 key firms and change
credits to stock in 7 key enterprises like the Anshan Iron and
 Steel Company. 

 The Central Government has taken steps nationwide to help money-
losing large and medium-sized state-owned enterprises
 since 1998, which account for about 30 percent of the 7,680 large and
medium- sized state-owned enterprises in China. 

 Sheng Huaren, the minister in charge of the State Economic and Trade
Commission, says that 1999 is a crucial year for the
 three- year reform of state-owned enterprises and the Central
Government will try to hold losses to within 15 percent by the year
 2000. Liaoning contributed a great deal to China's economic
development and it will have a positive effect on the whole country if
 its reforms go smoothly, according to Vice-premier Wu Bangguo. 

 Liaoning will stick to its policy of closing down resource- wasting
and ecologically-unsound small coal mines, cement plants, oil
 refineries, steel factories, and thermal power plants and will
restructure the oil, chemical, and metallurgy industries. 

 It will also improve macro-economic controls in small and medium-sized
enterprises and get more people with technical and
 management skills to come to these enterprises. 
--------
Forum on Developing Nuclear Power
                                 Held in Beijing

                     　　Some 100 Chinese experts and leading
                     officials attended a forum in Beijing August 21
                     sponsored by three domestic research institutions
                     to discuss China's strategy for developing
                     nuclear power.

                     　　Also attending the forum was Zhu Guangya, a
                     vice-chairman of the National Committee of the
                     Chinese People's Political Consultative
                     Conference.

                     　　Some speakers pointed out that China's
                     nuclear power output accounts for only 1.3
                     percent of the country's total power output,
                     compared with the 17 percent in the world.

                     　　They urged the construction of more nuclear
                     power plants and stations as well as natural gas
                     and hydro-electric power stations around the
                     country.

                     　　According to official figures, during its
Ninth
                     Five-Year Plan period (1996-2000), China is
                     building and plans to build four nuclear power
                     stations with eight generators that have a
                     combined generating capacity of 6.6 million kw.
                     (Xinhua)

                     HomeNews 1999-08-22 
__________________________________________________
Do You Yahoo!?
Bid and sell for free at http://auctions.yahoo.com