Edition: English | 中文简体 | 中文繁体 Монгол
Homepage > Biz Video

Building materials SOEs announce merger


08-27-2016 00:58 BJT

A number of mergers and acquisitions have been carried out among Chinese state-owned companies lately to sharpen their competitive edge. Two leading SOEs in the building materials sector have become the latest to join forces.

China's top two state-owned building material manufacturers, the China National Building Material Group and China National Materials Group -- have been granted approval to merge and become one conglomerate. Total assets of the new company will top 550 billion yuan with 250,000 workers.

"The merger is carried out in the backdrop of China's Supply Side reform and the de-capacity effort. It is well expected that more state owned companies will follow up," said Li Jin, principal researcher of China Enterprise Research Institute.

The move to reform Chinese state-owned companies is running fast. The State-owned Asset Supervision and Administration Commission says 18 state-owned companies have completed re-organizations through mergers and acquisitions since 2015.

Follow us on

  • Please scan the QR Code to follow us on Instagram

  • Please scan the QR Code to follow us on Wechat