Reformation Plan of Ha'erbin's State-owned Enterprises in 2005

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Jan 21,2005

Jan 19 2005, The spokesman of State-owned Assets Supervision and Administration Commission of Ha'erbin announced that they will carry out reformation in more than 90 percent of the state-owned enterprises and try to make 70 percent of the reformations finished this year. Now so many enterprises in Ha'erbin are seeking foreign cooperation actively. For example, the Noutheast Light Alloy Co.,Ltd、Ha'erbin Cement Plant、Ha'erbin Bearing Group、Ha'erbin Tools Plant and Ha'erbin Air Conditioner Company are in the negotiation with the Lafarge Group、Zhejiang Xinzhou Group(China)、the Schaeffler Group、the Pechiney Group and NSK respectively about their cooperations. Predictively, the above domestic enterprises will identify their foreign strategy investors this year and enlarge their scale. The attracting investment of Ha'erbin can be classified into 4 kinds: First, decreasing the state share in the state-owned enterprises and making foreign equity investment available. Second, establishing joint venture and transfering property right. Third, seeking complete or block acquisition from foreign companies. Fourth, attracting foreign investor and restructuring our enterprises by the foreign advanced experience.

(cbcc)

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