Establishment of SOEs allowed in 24 fields

While state owned enterprises (SOEs) can be established in any fields as applied now, in the near future SOEs will be allowed to be set up in only 24 fields, as regulated in the decree of the government instructing new establishment, reorganisation, and dissolution of state owned enterprises (SOEs) which is expected to soon be issued.
Additionally, all decisions on establishment of SOEs although being made by ministers, or chairmen of provincial people’s committees are required to get approval from the prime minister.
Establishment of state owned corporations or big SOEs will be directly decided by the prime minister.

 

Category: Legal