Shanghai chosen to lead experiments in state share sales to foreign investors

SHANGHAI (AFX-ASIA) - The central government has chosen Shanghai as the first city to experiment with the sale of government stakes in listed companies to overseas investors, Wu Hongmei, vice-director of the Shanghai State Asset Bureau said, according to the China Securities newspaper.

	    According to the report, Wu said the 90 Shanghai-based listed companies which have state shares generally have better quality assets than other state-owned listed companies, making it easier for these companies to attract foreign investors.

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